India-New Zealand Trade Pact to Take Effect October 20

A free trade agreement between India and New Zealand, signed in April, will come into force on October 20, Indian Trade Minister Piyush Goyal said on Monday. The pact comes as India seeks to expand its export markets and strengthen trade ties amid changes in global trade.

Under the agreement, tariffs on around 95% of New Zealand’s exports to India, including wine, kiwifruit and apples, will be eliminated or significantly reduced. Indian goods will receive duty-free access to New Zealand, while mobility rules for students and workers will also be eased.

The two countries have committed to doubling bilateral trade by 2030, with trade currently worth around $2.3 billion. New Zealand has also agreed to invest $20 billion in India over the next 15 years, adding to efforts to deepen economic and commercial ties between the two countries.