New Zealand Parliament Approves Legislation to Implement Free Trade Agreement with India

Key facts

• New Zealand's parliament passed legislation to implement a free trade agreement with India, under which tariffs on about 95% of New Zealand exports to India will be eliminated or significantly reduced.
• The legislation passed by a vote of 93-29, with support from the opposition Labour Party.
• Under the deal, all Indian goods will receive duty-free access to New Zealand, and more than half of covered products become duty-free from the day it takes effect.
• New Zealand has agreed to invest $20 billion in India over the next 15 years.
• Both nations originally signed the trade agreement in April, and it will take effect after both complete ratification procedures.
• Two-way trade totalled NZ$3.99 billion ($2.29 billion) in the year to June 2026, with India ranking as New Zealand's ninth-largest goods and services export market.
• New Zealand Trade Minister Todd McClay said the agreement is expected to enter into force this year.