India-New Zealand free trade agreement to take effect from Oct 20: Piyush Goyal

“India-New Zealand FTA coming into force on 20th October 2026, on the occasion of Vijay Dashami,” commerce minister Piyush Goyal said on Monday. Explaining the significance of the festival to New Zealand trade minister Todd McClay through a video conference, he said it celebrates the triumph of good over evil and called the deal “a Vijay (win) for both nations.”

All Indian exports to New Zealand will be duty free from the day of its operationalisation, the minister said. At present, New Zealand has peak tariffs of up to 10% on key Indian goods such as ceramics, carpets, automobiles, and auto components.

According to the terms of the agreement, New Zealand has also committed foreign direct investments worth $20 billion in India over the next 15 years. Goyal said India will set up dedicated investment facilitation desks to help investors from the country. “Looking forward, our immediate priority should be to ensure that the provisions of the agreement immediately translate into tangible benefits for businesses and people of India and New Zealand,” he said.