Bilateral Updates

India's engineering exports to New Zealand are poised to double over the next five years from USD 140.5 million to USD 280-300 million, following the signing of a free trade agreement (FTA) that grants zero-duty market access to all Indian goods, officials said. Industry body EEPC India's Chairman Pankaj Chadha said the pact would provide a strong tailwind to the sector, particularly MSMEs, by lowering trade barriers and ensuring stable market access in a relatively small but high-potential destination.

India and New Zealand on Monday officially signed a long-awaited free trade agreement (FTA), sealing what Prime Minister Christopher Luxon has described as a "once-in-a-generation" pact that opens new pathways for trade in goods and services, investment flows, and labour mobility between the two countries.

The recently concluded India-New Zealand (NZ) Free Trade Agreement (FTA) is expected to open fresh avenues for trade, investment, and industrial collaboration, particularly in the automotive and electric mobility sectors. Anish Shah, group CEO and managing director of the Mahindra Group, said the pact marks a significant step in strengthening bilateral economic ties.