India’s Commerce and Industry Minister, Piyush Goyal, highlighted the significance of the India-New Zealand Free Trade Agreement (FTA) as the first women-led FTA for India. The negotiation team, predominantly comprising women, played a crucial role in this milestone agreement. Prime Minister Narendra Modi’s support for the deal underscores its importance in promoting gender inclusivity in trade talks and enhancing both domestic industries and international trade relations.
The FTA, spearheaded by PM Modi and New Zealand’s Prime Minister Chris Luxon, was successfully finalized within nine months, with the collaborative efforts of Trade Minister Todd McClay and the negotiating teams from both countries. Minister Goyal emphasized that this agreement symbolizes a deep mutual trust, shared ambition, and a joint commitment to prosperity.
Minister Goyal further elaborated that the FTA provides 100% duty-free access for Indian exports to New Zealand, offering substantial opportunities for various sectors including MSMEs, farmers, women, youth, and professionals. It aims to safeguard India’s interests through a well-balanced framework while fostering investments amounting to $20 billion in India. The agreement is poised to enhance cooperation in trade, services, investment, innovation, agriculture productivity, education, and workforce mobility.
This forward-thinking agreement is anticipated to create pathways for skilled talent and students, strengthening the vision of Viksit Bharat and fostering closer India-New Zealand relations. It sets a new standard for inclusive and trusted global cooperation, reflecting a win-win partnership that benefits both nations.
The FTA encompasses provisions related to the mobility of working professionals and students, including a landmark annex on student mobility and post-study work visas with New Zealand. Indian students can now work up to 20 hours per week while studying in New Zealand, with extended post-study work opportunities. Additionally, the agreement allocates 5,000 visas for skilled Indians in sectors of interest to India, such as AYUSH practitioners, yoga instructors, chefs, and IT professionals, among others.
Under the Working Holiday Visa program within the FTA, 1,000 young Indians annually can enjoy multiple entries to New Zealand for up to 12 months. Notably, certain items like dairy products and agricultural produce such as onions have been excluded from the FTA, safeguarding India’s interests.
