Onlykashmir.in News Desk
India and New Zealand will open a new chapter in their economic partnership on Tuesday, when the Free Trade Agreement between the two countries comes into force on the auspicious occasion of Vijay Dashami. The agreement will provide duty-free access for 100 per cent of Indian exports to the New Zealand market, a provision that exporters across sectors have long sought.
Addressing a ceremony in New Delhi on Monday to mark the entry into force of the agreement, Union Commerce and Industry Minister Piyush Goyal said the pact is aligned with Prime Minister Narendra Modi’s vision of Viksit Bharat 2047. He said it opens significant new opportunities for Indian exporters, particularly MSMEs, artisans, farmers and the pharmaceutical sector. Both countries have agreed to work towards doubling bilateral trade in goods and services to approximately ₹35,000 crore by 2030.
Goyal said Indian farmers will gain wider market access for fruits, vegetables, spices and other agricultural produce, which would help improve productivity, support higher incomes and strengthen livelihoods. He underlined that sensitive sectors, including dairy, remain protected, keeping the welfare of farmers at the heart of the government’s approach.
The Minister also pointed to New Zealand’s commitment to facilitate 20 billion US dollars in investment into India, which he said holds immense potential to strengthen manufacturing, infrastructure, services and innovation. The agreement, he added, will create employment opportunities, and he expressed confidence that the win-win partnership would achieve many more milestones, guided by a shared vision of growth and mutual prosperity.
The agreement was signed in April this year at Bharat Mandapam in New Delhi. Beyond trade in goods, it creates new openings in services, investment and professional, student and youth mobility, including enhanced pathways for Indian professionals and students. India and New Zealand share longstanding and close relations anchored in strong people-to-people ties and expanding cooperation across trade and investment, agriculture, education, sports and technology. Bilateral merchandise trade stood at around 1.1 billion US dollars in 2025-26, a base that both sides now hope to build on substantially.
To mark the occasion, Goyal flagged off the first-ever export of a JCB machine from India to New Zealand. Flag-offs of a range of products across agriculture, gems and jewellery, engineering, sporting goods, footwear and leather are also planned for the entry-into-force day. These initiatives reflect the confidence of Indian manufacturers and the opportunities the agreement opens up for exporters across the country.
For producers in regions such as Jammu and Kashmir, known for fruit, spices and handicrafts, the emphasis on artisans and agricultural produce will be closely watched, since easier access to overseas markets can translate into better returns for small producers and cottage industries.
