India is fast-tracking Free Trade Agreement (FTA) deals with nations. India and New Zealand have concluded their FTA that will either completely remove or reduce to as low as 95% tariffs on New Zealand exports to India. Indian Prime Minister Narendra Modi called New Zealand Prime Minister Christopher Luxon on 22nd December 2025, and they jointly announced the historic, ambitious, and mutually beneficial India–New Zealand FTA.

Indian Minister for Commerce and Industry Piyush Goyal announced on 22nd December that Kiwi businesses will get unprecedented access to 1.4 billion consumers in an economy set to become the world’s third-largest. Goyal posted a picture from his November visit to New Zealand when he met with his New Zealand counterpart, Minister Todd McClay, and they concluded the negotiations. 

India’s Ministry of External Affairs said in a statement that during Luxon’s visit to India in March 2025, the two leaders agreed to the conclusion of the FTA in a record time of 9 months. This reflects the shared ambition and political will to further deepen ties between the two countries. New Zealand also boasts of a growing Indian diaspora population. 

The FTA would significantly deepen bilateral economic engagement, enhance market access, promote investment flows, strengthen strategic cooperation between the two countries, and also open up new opportunities for innovators, entrepreneurs, farmers, MSMEs, students, and youth of both countries across various sectors.

Modi and Luxon said they targeted doubling bilateral trade over the next five years as well as an investment of USD 20 billion in India from New Zealand over the next 15 years.