New Zealand's parliament has passed legislation to implement a free trade agreement with India, which will eliminate or significantly reduce tariffs on approximately 95% of New Zealand's exports to India. The deal, signed in April, is expected to enter into force this year.
The trade deal is expected to boost bilateral trade and investment between New Zealand and India, with significant tariff reductions on New Zealand exports and a substantial investment commitment from New Zealand into India.
New Zealand's parliament has passed legislation to implement a free trade agreement with India, a move that will eliminate or significantly reduce tariffs on approximately 95% of New Zealand's exports to India. The legislation passed with a vote of 93–29, with support from the opposition Labour Party. According to New Zealand Trade Minister Todd McClay, more than half of all products covered by the deal will become duty-free immediately upon its effectuation, providing substantial benefits to exporters. The agreement also grants all Indian goods duty-free access to New Zealand and includes a commitment from Wellington to invest $20 billion in India over the next 15 years. The deal was initially signed in April, and it is expected to enter into force this year once both nations complete their ratification processes. In the year to June 2026, two-way trade between the two countries totaled NZ$3.99 billion, with India being New Zealand's ninth-largest market for goods and services.