The third round of talks between India and New Zealand for a free trade agreement was successfully concluded on Friday in Queenstown, the Ministry of Commerce and Industry said.

According to the ministry, the discussions reaffirmed the shared commitment of both nations to strengthen their economic ties while working towards concluding a balanced and mutually beneficial agreement earlier than expected.

The negotiations were also reflective of a common resolve to deepen bilateral trade, investment, and economic cooperation between India and New Zealand, a vision shared by Indian Prime Minister Narendra Modi and his counterpart, Cristopher Luxon. 

It may be noted that the free trade agreement was formally launched in March this year, during a meeting with Piyush Goyal, the Union Minister of Commerce and Industry, and Todd McClay, New Zealand’s minister for Trade and Investment. 

The third round of negotiations—held from 15th to 19th September—saw constructive discussions across all facets of the impending agreement. The ministry announced in its communique that several chapters of the proposed agreement had been concluded, and significant progress had been achieved in other key areas during the third round of negotiations.

India’s bilateral merchandise trade with New Zealand, according to the ministry, was at $1.3 billion in FY 2024-25, registering a growth of nearly 49% over the previous year. The proposed agreement is expected to enhance trade flows, further foster investment linkages, strengthen supply chain resilience, and establish a predictable framework for businesses in both countries.

Both sides agreed to sustain momentum through inter-sessional engagements. The next round of in-person negotiations is slated to take place in New Delhi on 13–14 October.

In April, McClay launched a public consultation process, calling for submissions on New Zealand and India’s negotiation of a comprehensive free trade agreement. All interested New Zealanders, including businesses and NGOs, were invited by McClay to make submissions. He had averred that the public’s view would help his ministry better inform them in the early parts of the negotiations. 

The following month, representatives from both countries met for the first round of in-person negotiations held in New Delhi between 5th and 9th May. At the time, McClay stated that, with a population of 1.4 billion and an estimated GDP increase to $5.2 trillion by 2030, India offers a substantial opportunity for New Zealand exporters.

“Strengthening ties with India across the board is a key part of the Government’s broader strategy to diversify and grow New Zealand’s export markets and double trade by value in 10 years,” he had said.