India’s push toward deeper economic engagement with New Zealand gained momentum as Union Minister of Commerce and Industry Shri Piyush Goyal met New Zealand’s Minister for Trade Todd McClay in Mumbai on Monday. The high-level bilateral meeting focused on accelerating negotiations for the long-proposed India–New Zealand Free Trade Agreement (FTA), which both sides described as progressing with renewed clarity and purpose.
During the discussions, the Ministers reviewed the outcomes of the latest negotiation round, noting significant advancements and the successful closure of several technical components. Both leaders highlighted that the recent dialogues have brought a marked convergence on key issues, strengthening the pathway toward a mutually satisfactory and timely conclusion of the FTA.
Bilateral merchandise trade between the two countries has seen robust growth, reaching USD 1.3 billion in FY 2024–25, a sharp 49 percent increase over the previous year. Officials underscored that a comprehensive and well-balanced FTA could further expand trade flows, deepen investment ties, improve supply-chain resilience, and provide a transparent and predictable framework for businesses in both nations.
The meeting also reaffirmed the shared ambition to foster a modern, forward-looking partnership. Both Ministers expressed confidence that the FTA could unlock opportunities across multiple sectors, including services, technology, agriculture, innovation, and digital collaboration.
With constructive momentum building, India and New Zealand agreed to intensify negotiations in the coming weeks. Both sides remain confident that an early and balanced agreement will serve as a catalyst for enhanced economic cooperation and long-term strategic engagement.