Business EconomyPosted at: Sep 17 2026 7:25PM


India welcomes NZ Parliament approval of FTA, pact opens $20 Billion investment door

New Delhi, Sep 17 (UNI) India on Thursday welcomed the passage of legislation by the New Zealand Parliament to give effect to the India-New Zealand Free Trade Agreement (FTA), describing the move as an important step towards bringing the trade pact into force.
The legislation was passed by the New Zealand Parliament on September 16, 2026. India and New Zealand signed the FTA in New Delhi on April 27, 2026, following negotiations aimed at expanding bilateral trade and economic cooperation.
The latest development comes after Prime Minister Narendra Modi's visit to New Zealand in July, his first visit to the country by an Indian Prime Minister in four decades. During the visit, Modi and his New Zealand counterpart reiterated their commitment to strengthening economic ties and stressed the need for the early implementation of the FTA.
The agreement is expected to provide wider market access for businesses in both countries. Under the pact, 100 per cent of Indian exports to New Zealand will receive duty-free access from the date the agreement enters into force.
Indian exporters in sectors including textiles and apparel, leather and footwear, engineering products, pharmaceuticals, agriculture and processed foods are expected to gain from the elimination of duties in the New Zealand market.
New Zealand, meanwhile, will receive enhanced and preferential access to the Indian market for several products, including wood, wool, sheep meat, and raw hides used by the leather industry.
Beyond merchandise trade, the agreement also includes provisions covering services, investment, and mobility. It seeks to create additional opportunities for professionals, students, and young people from the two countries, including expanded pathways for Indian professionals and students.
The trade pact also includes a framework aimed at facilitating USD 20 billion of investment into India. Cooperation has additionally been strengthened in areas such as agricultural productivity, pharmaceuticals and medical devices, traditional medicine and AYUSH, technology and trade facilitation.
India and New Zealand have maintained longstanding bilateral ties, supported by people-to-people connections and cooperation across areas including education, agriculture, sports, technology, trade and investment.
The passage of the implementing legislation in New Zealand is a key step in the domestic approval process. Both countries are now working to complete the remaining procedures required on their respective sides before the FTA can formally enter into force.
Once implemented, the agreement is expected to give exporters and businesses in India and New Zealand greater clarity on market access while broadening the scope of bilateral economic engagement.
UNI PWS RSA
Tags: #India welcomes NZ Parliament approval of FTA# pact opens $20 Billion investment door
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