India–New Zealand Seal FTA: Zero-Duty Exports, 5,000 Work Visas, $20Bn Investment Boost

India and New Zealand have sealed a landmark Free Trade Agreement following talks between Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon, marking India’s third trade deal this year and the seventh FTA under PM Modi’s leadership. The pact grants zero-duty access for all Indian exports into the New Zealand market while India liberalises tariffs on around 70 per cent of New Zealand exports, covering nearly 95 per cent of current bilateral trade. Politically sensitive sectors such as dairy, select farm products, sugar, edible oils and key metals have been ring-fenced to protect Indian farmers, fishermen, MSMEs and domestic industries. The agreement also delivers a major mobility boost, allowing up to 5,000 Indian professionals at any time, three-year temporary work visas, extended post-study options for STEM and higher education graduates, and expanded opportunities for Indian students. New Zealand has additionally pledged a $20 billion investment in India over the next 15 years, bringing together trade, talent and capital in a single comprehensive pact aligned with India’s Viksit Bharat vision.