Overview
- Negotiations were wrapped up on December 22 after nine months, with leaders unveiling the concluded pact this week as one of India’s fastest deals with a developed economy.
- The agreement grants zero-duty access for all Indian exports to New Zealand, while India will liberalise about 70% of its tariff lines covering roughly 95% of New Zealand’s exports.
- Services and mobility commitments include access across 118 sectors, post‑study work rights of up to three years for STEM graduates and four for doctoral scholars, 5,000 temporary employment visas for professionals, and 1,000 annual work‑and‑holiday visas.
- New Zealand has pledged to facilitate up to USD 20 billion of investments into India over 15 years, alongside cooperation on agriculture and steps to ease regulatory approvals for pharmaceuticals and devices.
- India excluded sensitive items such as dairy, sugar, spices and edible oils from concessions, and while leaders project trade could double within five years, the deal now moves toward formal signing and implementation.