The India-New Zealand Free Trade Agreement becomes effective on Tuesday, eliminating tariffs on Indian merchandise exports and marking India's seventh operational trade pact in five years.
Commerce Minister Piyush Goyal stated that New Zealand has committed $20 billion in foreign direct investment into India over the next 15 years.
The agreement aims to double bilateral trade to ₹35,000 crore by 2030 while safeguarding domestic agricultural interests by excluding items like onions, chickpeas, and dairy.