India–New Zealand Trade Could Double in Five Years as FTA Talks Resume: GTRI
New Delhi: India and New Zealand should target doubling their bilateral trade over the next five years as both countries move closer to finalising a comprehensive free trade agreement, according to the Global Trade Research Initiative (GTRI). The think tank has recommended early tariff reductions, stronger cooperation in agriculture and services, along with improved air connectivity and easier visa norms to accelerate trade growth.
Bilateral trade between India and New Zealand stood at $1.3 billion in FY25. GTRI founder Ajay Srivastava said selective tariff relief, sector-focused cooperation and regular business delegations could help achieve the ambitious target. Renewed FTA negotiations, which resumed this year after stalling in 2015, are expected to focus on lowering duties on industrial goods, textiles, engineering products and select farm items, while protecting sensitive agricultural sectors.
India’s exports to New Zealand include aviation turbine fuel, textiles, pharmaceuticals and machinery, while New Zealand mainly ships wood, metal scrap and farm products. Services trade, particularly in IT, education and tourism, remains a key growth area.
Our Final Thoughts
A balanced India–New Zealand trade pact could unlock new opportunities for both economies while carefully safeguarding sensitive sectors amid global trade uncertainty.