This week is of great significance for India and New Zealand, with both nations taking significant steps toward deepening their economic ties.
Union Minister of Commerce & Industry Piyush Goyal is already in Auckland, with the fourth round of negotiations for a Free Trade Agreement (FTA) between the two countries underway.
The India-NZ FTA is expected to put the spotlight on emerging sectors, while focusing on fairness and mutual benefit.
During the discussions, both sides acknowledged the importance of striking a “balanced and mutually advantageous” deal.
India brings to the table a massive and growing consumer market, while New Zealand offers established expertise in niche agricultural technologies, food processing, and sustainable business—areas that could give Indian enterprises a competitive edge.
India is a country of huge importance to New Zealand’s prosperity, security, and society.
— Christopher Luxon (@chrisluxonmp) November 5, 2025
We’re working hard on a New Zealand-India free trade agreement that would create massive opportunities for Kiwi businesses in the Indian market.
I joined Trade Ministers McClay and Goyal… pic.twitter.com/bdjo7g2gi9
The two countries reiterated their commitment to an agreement that would boost market access, spur investment, and create a predictable regulatory environment for businesses on both sides.
“The ongoing India–New Zealand FTA negotiations will pave the way for expanding trade, investment, and innovation linkages,” Goyal said.
“India is a country of huge importance to New Zealand’s prosperity, security, and society. We’re working hard on a New Zealand-India free trade agreement that would create massive opportunities for Kiwi businesses in the Indian market,” New Zealand PM Christopher Luxon pitched in.
India-NZ trade is still new and underutilised. Official sources put total bilateral trade in goods and services between India and New Zealand at somewhere around $1.75 billion in fiscal 2023–24.
New Zealand exported $840 million worth of goods and services to India, and imported $910 million from India, a trade balance that has swung in India’s favour over the last year.
Over the last five years, trade has averaged around $1.5–2 billion annually, with a notable uptick in 2023–24 despite global headwinds.
India’s main imports from New Zealand include wool, iron and steel, aluminium, and fruits and nuts, while Indian exports to New Zealand are led by pharmaceuticals, machinery, textiles, and precious stones.
Officials on both sides agree that there is ample untapped potential: with just 1.4 per cent of New Zealand’s global trade currently linked to India, and India ranking as New Zealand’s 14th largest export market for goods and services, there’s plenty of room to grow.
