US EditionIndia FTA 'Rushed' for 'Political Purposes'
The agreement removes tariffs on 95% of New Zealand exports to India, securing sector wins but limited dairy gains amid political opposition from New Zealand First.
- On Monday, Prime Minister Christopher Luxon and Trade Minister Todd McClay announced the New Zealand government had concluded free trade negotiations with India, with tariffs cut on 95 percent of exports and formal signing expected next year.
- Trade ministers led an intensive push, with Trade Minister Todd McClay visiting India seven times and New Zealand's largest-ever trade mission earlier this year, while Prime Minister Christopher Luxon met Indian Prime Minister Narendra Modi last year.
- Almost 57 percent of exports will be duty-free from day one, rising to 82 percent fully implemented, with immediate tariff removal on sheep meat, wool, coal and phased seafood and kiwifruit access.
- With NZ First withholding support, passage now depends on the opposition after New Zealand First exercised the 'agree to disagree' provision last week and Winston Peters called the deal a bad outcome.
- Industry groups welcomed the agreement while urging continued work on dairy, with two-way trade in 2024 about $3.14b and India's economy forecast to $12 trillion by 2030, and Guy Roper said, `Maybe that's an opportunity for us to explore further in 2026`.
13 Articles
13 Articles
New Zealand foreign minister opposes trade pact with India, calls it 'neither free nor fair'
New Zealand's coalition government faces internal opposition to the India FTA, with Foreign Minister Winston Peters vowing to vote against it. He argues the deal is unfair, giving too much on immigration without sufficient returns, particularly for dairy exports. Despite this, the opposition ...
Neither free nor fair: New Zealand Foreign Minister opposes FTA with India
New Zealand Foreign Minister Winston Peters said his party was “regrettably opposed” to the trade agreement with India, arguing that it makes “serious concessions” on immigration and investment while failing to secure meaningful gains for New Zealand’s key export sectors, especially dairy.
India's free trade agreements playbook explained
India has concluded a Free Trade Agreement with New Zealand. This marks India's 18th such deal. The agreement is expected to be signed in three months and come into force in 2026. This pact aims to boost bilateral trade and investments. India has also signed agreements with Oman and the UK, enhancing economic engagement.
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