New Zealand Parliament Passes 'Once-in-a-Generation' India Trade Deal, Cutting Tariffs on Most Exports
- IBEF
- September 17, 2026
New Zealand's parliament passed legislation to implement a free trade agreement with India, under which tariffs on about 95% of New Zealand exports to India would be eliminated or significantly reduced, with more than half of all covered products becoming duty-free from the day it takes effect. The legislation passed by a vote of 93-29, with support from the opposition Labour Party. New Zealand Trade Minister Mr. Todd McClay said the benefits for exporters are immediate and substantial, adding that the high-quality agreement is expected to enter into force this year, delivering on the government's promise to complete a free trade agreement with India this term. Under the deal, all Indian goods will receive duty-free access to New Zealand.
Wellington has also agreed to invest Rs. 1,90,880 crore (US$ 20 billion) in India over the next 15 years. Two-way trade between the two countries totalled US$ 2.29 billion in the year to June 2026, with India ranking as New Zealand's ninth-largest goods and services export market.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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