NEW DELHI – After signing a far-reaching Free Trade agreement (FTA) with the United Kingdom, India is now exploring the possibility of such accords with many other countries.
As part of the initiative, New Delhi concluded the second round of negotiations for an India-New Zealand FTA in New Delhi on Saturday, further advancing the shared objective of the two countries for strengthening bilateral trade and economic partnerships.
This development catalyses the shared commitment to deepen economic ties and guidance given by Prime Minister Narendra Modi during the visit of his New Zealand counterpart Christopher Luxon, in March 2025.
The FTA process was launched during the meeting between Union Minister of Commerce and Industry Piyush Goyal and New Zealand Minister for Trade and Investment Todd McClay on March 16.
Continuing the momentum generated during the first round held in May in New Delhi, the second round of negotiations was held from 14-25 July. This round accomplished significant advancement in multiple areas, including Trade in Goods and Services, Investment, Rules of Origin, Customs Procedures and Trade Facilitation, Technical Barriers to Trade, Sanitary and Phytosanitary Measures, and Economic Cooperation.
Discussions were marked by mutual interest in achieving early convergence on several texts. Both sides reaffirmed their commitment to concluding a balanced, comprehensive, and forward-looking agreement, an official press note said.
The third round of negotiations is scheduled to be held in New Zealand in September. The intersessional virtual meetings will maintain the forward trajectory set in the second round.
India’s bilateral merchandise trade with New Zealand reached $1.3 billion in 2024-25, recording a growth of 48.6% over the previous financial year, signaling the growing potential of the economic partnership.
The FTA is expected to enhance trade flows, support investment linkages, promote supply chain resilience, and establish a predictable and enabling environment for businesses in both countries.