India and New Zealand wrapped up the fourth round of negotiations on their Free Trade Agreement (FTA) on Friday, focusing on trade, investment, and economic cooperation.
“The fourth round of negotiations were focused on goods market access, services, economic and technical cooperation and investment opportunities,” Commerce and Industry Minister Piyush Goyal said.
The minister, who is in New Zealand for the talks, said both sides aim for the early conclusion of a balanced, comprehensive, and mutually beneficial agreement reflecting the growing strategic and economic convergence between the two countries.
The next round of discussions is expected to be held in New Delhi. On Thursday, Goyal and New Zealand Trade and Investment Minister Todd McClay reviewed progress in the negotiations and co-chaired the India-New Zealand CEOs roundtable, which brought together senior business leaders from both countries.
During his visit to Auckland and Rotorua, Goyal also met with prominent New Zealand business executives, including Valocity CEO Carmen Vicelich, Slumberzone CEO Ranjay Sikka, Meat Industry Association chairman Nathan Guy, and Pan Pac managing director Tony Clifford.
The meetings highlighted growing interest in expanding bilateral cooperation across sectors including agriculture, tourism, technology, education, sports, gaming, and drone technology. Given India’s recent advancements in the space sector, including lunar missions, space collaboration was identified as a promising area for future engagement, according to a statement from the commerce ministry.
India and New Zealand relaunched FTA negotiations in March during New Zealand Prime Minister Christopher Luxon’s visit to New Delhi. The first round of talks took place in May. This marks the second attempt by the two nations to reach a trade deal, aiming to increase bilateral trade 10-fold over the next decade.
Bilateral trade in 2024-25 stood at $1.29 billion, with India exporting $711.08 million and importing $587.15 million from New Zealand.
The first FTA attempt, conducted between 2010 and 2015, included 10 rounds of talks but stalled, largely over New Zealand’s demand for access to India’s dairy market. Dairy and agriculture remain sensitive areas in trade negotiations. India has not opened its dairy sector in any FTA, including the recently finalised India-UK agreement.
