New Zealand and India have signed an FTA, aiming to cut tariffs and expand exports in forestry, meat and wool.
A landmark free trade agreement between New Zealand and India was officially signed in Delhi, setting the stage for tariff changes that could reshape export plans for several key sectors.
Trade Minister Todd McClay and India’s Minister for Commerce and Industry, Piyush Goyal, put their names to the NZ–India FTA in front of businesspeople from both countries. The Labour spokesperson on trade, Damien O’Connor, was also among those in attendance, as Misryoum reported.
The signing follows the deal being reached just before Christmas, and Misryoum understands the next step is parliamentary ratification. The public will be able to comment through the select committee process, while passage is viewed as likely after Labour indicated it will support the agreement.
In the tariff details, the agreement covers 95% of New Zealand exports to India, with duty-free access starting on day one for 57% of exports. The package also includes a reduction of the tariff that previously applied to sheepmeat, down from 30%.
Deal-makers framed the move as more than immediate market access, describing it as a way to reduce costs and open doors for exporters across different product categories.. Alongside lamb, the agreement’s day-one duty-free coverage is set to include wool, coal, leather, most forestry and industrial products.
This kind of shift matters because tariff cuts can translate into more predictable trading conditions, which is especially important for exporters weighing risk across multiple markets.
New Zealand’s red meat sector welcomed the outcome. Misryoum reports that the Meat Industry Association’s independent chair, Nathan Guy, said broader market options can help spread risk in an environment shaped by rising protectionism and ongoing volatility.
Guy added that while immediate gains may not be immediate, the FTA is intended to chart a pathway to improved market access and new opportunities for the red meat sector as India’s demand develops.
Beef + Lamb New Zealand chair Kate Acland said the agreement positions New Zealand for a major future market. She pointed to India’s growing consumer base and rising incomes, arguing that improved access helps address a previous constraint caused by a 30% tariff on New Zealand sheepmeat.
For exporters and policy-makers, the practical message is that ratification and parliamentary steps now become the focus.. Once in place, the NZ–India FTA is expected to support sector resilience by widening opportunities for trade with India, a market viewed as increasingly significant over the longer term.