Union Minister of Commerce and Industry Piyush Goyal on Monday held a bilateral meeting with New Zealand’s Minister for Trade Todd McClay in Mumbai to advance negotiations on the proposed India–New Zealand Free Trade Agreement (FTA).
The meeting focused on convergence across key areas relating to trade in goods and services. Both sides noted that the recent negotiating round saw substantive progress, with several elements concluded and a shared understanding emerging on the way forward for an early and mutually satisfactory closure of the agreement.
The Ministers observed that bilateral merchandise trade between India and New Zealand touched USD 1.3 billion in FY 2024–25, reflecting a growth of nearly 49 percent. They stated that a comprehensive and well-balanced FTA would further accelerate trade flows, enhance investment partnerships, strengthen supply-chain resilience, and provide a transparent and predictable framework for businesses in both countries.
Reaffirming their commitment to a forward-looking economic partnership, the two Ministers expressed confidence that the agreement has the potential to open opportunities across multiple sectors, including services, innovation and technology-based collaboration. They agreed to maintain the constructive momentum and intensify efforts in the coming weeks to facilitate an early and mutually beneficial conclusion of the India–New Zealand FTA talks.