Overview
- All Indian exports will face zero tariffs in New Zealand, while India offers liberalisation on about 70% of tariff lines covering roughly 95% of bilateral trade.
- Sensitive items remain excluded to protect Indian farmers and industry, including dairy products along with onions, sugar, spices and edible oils.
- Services provisions include market access in 118 sectors with MFN in 139 sub-sectors, a 5,000-visa Temporary Employment Entry pathway and extended post-study work rights for students.
- New Zealand pledges $20 billion in FDI into India over 15 years, with a rebalancing mechanism allowing India to suspend benefits if investment targets are not met.
- Talks wrapped in nine months, with signing expected after legal scrubbing and implementation contingent on New Zealand’s parliamentary approval, as both sides aim to double trade to about $5 billion within five years.