New Delhi: The free trade agreement (FTA) between India and New Zealand will come into force on October 20, Commerce and Industry Minister Piyush Goyal announced on Monday.
The FTA recently received strong bipartisan support in New Zealand’s Parliament, with 93 lawmakers voting in favour and 26 against.
“A Vijay for both nations. India-New Zealand FTA coming into force on 20th October 2026, on the occasion of Vijay Dashami,” the Commerce Minister said in a post on social media platform X.
In an interview with IANS last week, New Zealand’s Minister for Trade and Investment, Todd McClay, said that the India-New Zealand FTA is expected to come into force within the next month,
“The next stage is that we will sign it into law and exchange diplomatic notes with India when they are able to do the same. Then the clock starts ticking for the agreement to enter into force,” McClay had said, adding that “I think we can expect that within the next month.”
Signed in New Delhi on April 27, the agreement provides duty-free access for 100 per cent of Indian exports to New Zealand from the date of entry into force — opening new opportunities for Indian exports including textiles and apparel, leather and footwear, engineering goods, pharmaceuticals, agriculture, and processed food products.
It also provides enhanced and preferential access to the Indian market for New Zealand exports including wood, wool, sheep meat, and leather raw hides.
The FTA also creates new opportunities in services, investment and professional, student and youth mobility, including enhanced pathways for Indian professionals and students.
According to the ministry, it provides for facilitating $20 billion worth of investment into India and strengthens bilateral cooperation in areas, including agricultural productivity, pharmaceuticals and medical devices, traditional medicine and AYUSH, technology and trade facilitation.
Both the nations share close relations, anchored in strong people-to-people ties and expanding cooperation across trade and investment, agriculture, education, sports, technology and other areas.
(IANS)
