India-New Zealand free trade agreement comes into force as Goyal flags off the first consignment

20 October 2026

The India-New Zealand free trade agreement takes effect on 20 October 2026, which falls on Dussehra. Commerce and Industry Minister Piyush Goyal flagged off the first consignment in New Delhi on 19 October, a JCB-18Z mini excavator made in Pune. New Zealand's Trade and Investment Minister Todd McClay joined online. New Zealand gives zero-duty access from day one to Indian engineering goods, pharmaceuticals, marine products, textiles, chemicals, leather and footwear, gems and jewellery and electronic goods, covering all of India's exports. India offers duty concessions on 70 per cent of its tariff lines, covering 95 per cent of New Zealand's export value to India, with sensitive industries left out. Annual bilateral trade is about $1.2 billion, and New Zealand has committed $20 billion of investment over 15 years.