India and New Zealand to sign FTA, eliminating tariffs on all Indian exports
India and New Zealand are set to sign a Free Trade Agreement (FTA) on Monday. This agreement will remove tariffs on 100% of India's exports to New Zealand and significantly reduce or remove tariffs on 95% of current imports from New Zealand. Commerce Minister Piyush Goyal highlighted the pact as a defining moment in bilateral relations. The deal will provide immediate duty-free access for India on 100% of tariff lines, down from New Zealand's previous 10% tariff on about 450 Indian export items. India has managed to keep several sensitive items, including all dairy products, out of the FTA.
Key Points
- India and New Zealand will sign an FTA on Monday.
- The FTA will eliminate tariffs on 100% of India's exports to New Zealand.
- Tariffs on 95% of current imports from New Zealand will be sharply reduced or removed.
- India has excluded sensitive items like dairy products from the FTA.
Exam Facts
- FTA signing date: Monday (April 27, 2026).
- Indian Commerce Minister: Piyush Goyal.
- New Zealand Minister for Trade & Investment: Todd McClay.
- India's exports to NZ grew 32.1% to $711.1 million in 2024-25.
Read it. Retain it. Recall it.
Get spaced-repetition flashcards, daily quizzes and offline access — free on Android.