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ISSUE
Friday, December 19, 2025
Volume 16 . Issue 90
India's Union Cabinet on Friday is understood to have approved a trade agreement between India and New Zealand, according to people aware of the matter, as reported by Business Standard. No official confirmation was available at the time of going to press.
The approval clears the way for the trade deal to be signed from India’s side. Once concluded, the agreement will become India’s seventh trade pact since 2021 and forms part of its strategy to diversify trade ties amid a broader global trade reset.
India’s major exports to New Zealand include medicines, precious metals and gems, textiles and non-knitted apparel, and agricultural equipment and machinery. Key imports from New Zealand include iron and steel, aluminium, scrap metals, logs and forestry products, wood pulp, wool, apples, kiwi fruit, lamb and nuts.
Talks revived after decade-long pause
In March, India and New Zealand announced the resumption of talks for a “comprehensive and mutually beneficial” free trade agreement (FTA) after a gap of nearly 10 years. The two countries had first entered FTA negotiations 14 years ago, but discussions stalled after 10 rounds, with no formal negotiations taking place after February 2015.
Indian Government officials have indicated that negotiations were nearing completion, Business Standard reported. Last week, New Zealand Trade Minister Todd McClay visited New Delhi to review progress with Commerce and Industry Minister Piyush Goyal.
“We are in a good zone where we hope that the agreement will be closed and finalised soon... It is expected to be done soon,” Commerce Secretary Rajesh Agrawal said on Monday.
Trade flows and key sectors
India’s total exports of goods and services stood at $752 million in 2024, while imports totalled $791 million. Merchandise exports were valued at $538 million, compared with imports of $335 million during the year.
In services, India’s exports are led by information technology and software services, telecommunications supporting New Zealand’s digital infrastructure, medical tourism, pharmaceutical research and financial services. New Zealand’s services exports to India include education, tourism and fintech services.
India's Union Cabinet on Friday is understood to have approved a trade agreement between India and New Zealand, according to people aware of the matter, as reported by Business Standard. No official confirmation was available at the time of going to press.
The approval clears the way for the trade...
India's Union Cabinet on Friday is understood to have approved a trade agreement between India and New Zealand, according to people aware of the matter, as reported by Business Standard. No official confirmation was available at the time of going to press.
The approval clears the way for the trade deal to be signed from India’s side. Once concluded, the agreement will become India’s seventh trade pact since 2021 and forms part of its strategy to diversify trade ties amid a broader global trade reset.
India’s major exports to New Zealand include medicines, precious metals and gems, textiles and non-knitted apparel, and agricultural equipment and machinery. Key imports from New Zealand include iron and steel, aluminium, scrap metals, logs and forestry products, wood pulp, wool, apples, kiwi fruit, lamb and nuts.
Talks revived after decade-long pause
In March, India and New Zealand announced the resumption of talks for a “comprehensive and mutually beneficial” free trade agreement (FTA) after a gap of nearly 10 years. The two countries had first entered FTA negotiations 14 years ago, but discussions stalled after 10 rounds, with no formal negotiations taking place after February 2015.
Indian Government officials have indicated that negotiations were nearing completion, Business Standard reported. Last week, New Zealand Trade Minister Todd McClay visited New Delhi to review progress with Commerce and Industry Minister Piyush Goyal.
“We are in a good zone where we hope that the agreement will be closed and finalised soon... It is expected to be done soon,” Commerce Secretary Rajesh Agrawal said on Monday.
Trade flows and key sectors
India’s total exports of goods and services stood at $752 million in 2024, while imports totalled $791 million. Merchandise exports were valued at $538 million, compared with imports of $335 million during the year.
In services, India’s exports are led by information technology and software services, telecommunications supporting New Zealand’s digital infrastructure, medical tourism, pharmaceutical research and financial services. New Zealand’s services exports to India include education, tourism and fintech services.
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