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Assocham, India-New Zealand Business Council Sign Pact to Boost FTA-Led Trade

Assocham has signed an MoU with the India-New Zealand Business Council to boost trade under the recently concluded FTA. The pact aims to develop a structured action plan to facilitate industry-led initiatives and reduce procedural bottlenecks. With current trade at $1.9 billion, both sides target scaling it to $5 billion over five years, supported by a $20 billion investment commitment. The FTA provides 100% duty-free access for Indian exports to New Zealand, enhancing ties in textiles, pharmaceuticals, and services.

Key Points: Assocham-New Zealand Pact to Leverage FTA for $5B Trade

  • MoU signed to formalize industry-led FTA initiatives
  • Targets $5 billion bilateral trade from current $1.9 billion
  • $20 billion investment commitment over 15 years
  • 100% duty-free access for Indian exports to New Zealand
2 min read

Assocham inks pact with India-New Zealand business council to boost trade

Assocham and India-New Zealand Business Council sign MoU to boost trade under the FTA, targeting $5 billion bilateral trade and $20 billion investment.

"The FTA with New Zealand is unlocking the potential for trade and investment, with 100 per cent duty-free access for India's exports to New Zealand - Saurabh Sanyal"

New Delhi, April 27

Leading business chamber Assocham on Monday signed a Memorandum of Understanding with the India-New Zealand Business Council to develop a structured plan of action to facilitate and formalise industry-led initiatives under the India-New Zealand FTA and to ensure that businesses on both sides can effectively leverage the opportunities arising from the agreement.

Strengthening connectivity and human links will be central to unlocking the full potential of the India-New Zealand partnership in the years ahead, according to a statement.

Enhanced engagement between trade and industry bodies will make trade between India and New Zealand easier and significantly reduce procedural bottlenecks. Enhanced air connectivity and tourism cooperation further strengthen the economic partnership, said the industry body.

Concluded on December 22, 2025, in a record nine months, and signed on Monday, the FTA marks a significant milestone in strengthening bilateral ties. With current trade estimated at $1.3 billion in goods and $634 million in services, both countries aim to scale this to $5 billion over the next five years. A strong Indian diaspora of nearly 300,000 people in New Zealand continues to serve as a vital bridge in this partnership, the statement said.

In a global environment marked by trade uncertainties and shifting supply chains, this agreement underscores India's strategic diversification across the Indo-Pacific and its commitment to building resilient, inclusive, and future-ready economic partnerships, the industry body further stated,

The FTA with New Zealand is unlocking the potential for trade and investment, with 100 per cent duty-free access for India's exports to New Zealand, marking a new chapter in India's FTA trajectory. It also includes a commitment to invest $20 billion in India over the next 15 years, cementing a strong, long-standing partnership between the two strategic economies, the statement added.

Bilateral trade between the two economies is expected to increase, with India's exports of textiles, pharmaceuticals, petroleum products, and machinery, and New Zealand's imports mainly of raw materials for manufacturing and other primary inputs. India's services sector is expected to gain particularly from enhanced penetration in New Zealand, including information technology, financial services, educational services, business services, and other professional services, said Assocham Secretary General, Saurabh Sanyal.

- IANS

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Reader Comments

S
Shreya B
As someone in the IT sector, this sounds promising! Indian tech talent can definitely add value in New Zealand. Just hope the implementation is smooth – often these MoUs look good on paper but don't translate to ground reality. Fingers crossed! 🤞
R
Raghav A
I'm a textile exporter and this is excellent news! 100% duty-free access for Indian exports to NZ will be a game-changer for our industry. But let's not ignore the fact that we need better logistics and port infrastructure to really scale up. The government should focus on that too.
V
Vivek B
Finally some good news on the trade front! The Indian diaspora in NZ (nearly 3 lakh) will definitely help bridge cultural and business gaps. My cousin in Auckland says there's huge demand for Indian pharma and textiles there. Let's make the most of this opportunity! 🚀
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Priyanka N
Good initiative but I'm cautiously optimistic. FTAs often benefit large exporters while small producers struggle with compliance costs. Also, we need to ensure our farmers are protected – NZ dairy is very competitive. Hope the government has safeguards in place.
K
Karthik V
Record 9 months to conclude the FTA – that's what we call efficiency! With global supply chains shifting, India is positioning itself well. The $5 billion target in five years seems ambitious but achievable if we improve air connectivity and reduce bureaucratic red tape. 🇮🇳✨

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