Union Minister of Commerce and Industry Shri Piyush Goyal held a bilateral meeting in Mumbai with New Zealand’s Minister for Trade, Todd McClay, to advance discussions on the proposed India–New Zealand Free Trade Agreement (FTA). The engagement marked a significant step forward, with both Ministers focusing on areas of convergence across key disciplines relating to trade in goods and services.

Both sides noted that the latest negotiation round delivered substantive progress, with several elements concluded and a clear shared understanding emerging on pathways towards an early and mutually satisfactory agreement.

The Ministers highlighted that bilateral merchandise trade between India and New Zealand reached USD 1.3 billion in FY 2024–25, reflecting robust growth of nearly 49 per cent. They observed that a comprehensive and well-balanced FTA would help accelerate trade flows, enhance investment linkages, strengthen supply-chain resilience and establish a transparent, stable and predictable framework for businesses in both countries.

Reaffirming their commitment to an ambitious and forward-looking partnership, the Ministers expressed confidence that the FTA could unlock substantial opportunities across sectors such as services, innovation and technology collaboration. They agreed to maintain the constructive momentum and intensify efforts in the coming weeks to achieve an early, balanced and mutually beneficial conclusion to the negotiations.