Saturday, 27 Sep, 2025
Several chapters of the FTA were successfully closed during this round, while substantial progress was made in other key sectors, laying the groundwork for further convergence in the coming weeks. Image Source: Getty Images
The negotiations follow the formal launch of the FTA process on 16 March 2025, when Union Minister of Commerce and Industry Piyush Goyal met New Zealand’s Minister for Trade and Investment Mr. Todd McClay.
The third round of negotiations for the proposed India–New Zealand Free Trade Agreement (FTA) concluded on 19 September 2025 in Queenstown, New Zealand, marking another milestone in the ongoing trade talks. The discussions, held over five days from 15 to 19 September 2025, were described as constructive and forward-looking, with negotiators working across all areas of the prospective agreement.
Several chapters of the FTA were successfully closed during this round, while substantial progress was made in other key sectors, laying the groundwork for further convergence in the coming weeks. The talks reflected the shared ambition of both countries to deepen bilateral trade and investment ties, with negotiators underscoring the importance of building a balanced, mutually beneficial framework that accommodates the priorities of both economies.
The negotiations follow the formal launch of the FTA process on 16 March 2025, when Union Minister of Commerce and Industry Piyush Goyal met New Zealand’s Minister for Trade and Investment Mr. Todd McClay. That meeting reaffirmed both sides’ commitment to advancing the agreement at an accelerated pace. To sustain momentum, the two sides agreed to hold inter-sessional consultations in the lead-up to the next in-person round of negotiations. The fourth round is scheduled for 13–14 October 2025 in New Delhi, where negotiators are expected to build on the progress achieved in Queenstown and address remaining areas of divergence.
The meeting took place against the backdrop of Greek Prime Minister Kyriakos Mitsotakis expressing support for the swift conclusion of the India–EU Free Trade Agreement. He conveyed this sentiment to Prime Minister Narendra Modi during a phone call on Thursday, in which he also extended belated birthday wishes. During their exchange, the two leaders welcomed the positive trajectory of India–Greece relations, highlighting progress in areas such as trade, investment, technology, shipping, defence, security, connectivity, and people-to-people exchanges. They reaffirmed their shared commitment to further deepening the India–Greece Strategic Partnership.
India and New Zealand have long maintained warm and friendly relations, underpinned by shared values and historical ties. Both countries are members of the Commonwealth, follow common law traditions, and are united in their pursuit of inclusive economic growth and prosperity through democratic governance. These commonalities provide a strong foundation for deepening bilateral cooperation. Tourism and sports, especially cricket, hockey, and mountaineering have further strengthened mutual goodwill and cultural connections.
Source: Ministry of External Affairs (Trade in USD Billion)
The two nations also align closely on global issues, working together in support of disarmament, peace, North–South cooperation, human rights, environmental sustainability, and the fight against terrorism. People-to-people linkages date back to the 1860s, when Indian migration to New Zealand first began. Today, the country is home to about 300,000 people of Indian origin and NRIs, most of whom have made New Zealand their permanent residence. In addition, nearly 8,000 Indian students are currently enrolled in New Zealand’s universities and institutes, pursuing fields such as information technology, science, engineering, architecture, and hospitality.
The relationship is also enriched by a shared milestone, both nations attained independence in the same year. Despite the geographical distance, the Indian diaspora continues to serve as a strong bridge between the two societies. Formal diplomatic ties were established in 1950 with the opening of a Trade Commission, which was elevated to a High Commission in 1952. Over the decades, bilateral relations have steadily matured, driven by converging strategic interests and mutual economic benefits. Today, India and New Zealand collaborate across trade, education, culture, and other sectors, transforming an already friendly association into a robust partnership built on mutual trust, respect, and shared aspirations.
The India New Zealand Business Council (INZBC) serves as the leading body dedicated to advancing trade and investment relations between the two countries. Established in 1988 and headquartered in Auckland, the council plays a pivotal role by engaging with governments, sharing insights through its publications, and fostering business opportunities through its extensive networks. A key highlight of INZBC’s activities is its annual flagship event, the India–NZ Business Summit, which convenes senior leaders from government, industry, and academia to explore avenues for deepening bilateral economic cooperation. The most recent edition, held in May 2025 under the theme “Boardroom to Border,” was inaugurated by New Zealand Prime Minister Christopher Luxon. It also saw participation from India’s Minister of State in the Prime Minister’s Office, Pabitra Margrita, alongside several New Zealand ministers and high-level delegates.
All major Indian IT firms have established a presence in New Zealand. Financial institutions such as the Bank of India, Bank of Baroda, and New India Assurance also operate commercially in the country. Among Indian IT companies, HCL Technologies has a particularly strong footprint, having opened a delivery centre in Hamilton to service Fonterra, the world’s largest dairy cooperative. In 2020, HCL secured a USD 20 million annual contract from Fonterra. Other prominent Indian companies active in New Zealand include Mahindra Motors, Tech Mahindra, Infosys, Dr. Reddy’s Laboratories, and Royal Enfield. Mahindra Motors, which already runs 20 outlets across New Zealand, is further expanding its operations and has announced plans to introduce electric vehicles to the market.
On the other hand, several leading New Zealand companies have made significant inroads into India. The Gallagher Group has provided security systems for the Indian Parliament, ISRO, and other sensitive installations. Sealegs has supplied amphibious motorboats to the Mumbai Police, while HamiltonJet has delivered water-jet propulsion systems for Indian Coast Guard patrol vessels. Glidepath, a supplier of air cargo handling and conveyor belt systems to India’s international airports, has since been acquired by the French firm B2A Technology. QualityNZ exports premium seafood, meat, fruits, and wine to India’s luxury hospitality sector. Redesign Group has been involved in designing shopping malls and airport projects across India. Valocity, a property-tech platform linking brokers, lenders, and homebuyers, was recognised among the Top 20 fintech companies at the India FinTech Awards. In addition, Rakon NZ has set up a manufacturing unit in Bengaluru through a joint venture with Centum Electronics Ltd, producing advanced telecommunications components. Notably, Rakon’s chips were deployed in India’s Chandrayaan-3 mission.
