“Concluded In Record Time”: India–New Zealand Free Trade Pact Finalised In Nine Months

New Delhi: India has successfully concluded negotiations for a free trade agreement with New Zealand in a record span of nine months, Union Commerce and Industry Minister Piyush Goyal announced on Monday. Describing the timeline as exceptional, the minister said trade negotiations with developed economies typically take much longer to conclude.
Highlighting India’s growing efficiency in trade diplomacy, Goyal noted that the country has previously completed negotiations with the United Arab Emirates in just 88 days. The India–New Zealand agreement, he said, stands out as another example of India’s ability to engage swiftly and effectively with global partners.
The minister also underlined a notable aspect of the negotiations, stating that the agreement was largely finalised by women officers, with most of the negotiating tracks led by women. The chief negotiator for the pact was a joint secretary in the commerce ministry, reflecting increasing leadership roles for women in high level economic diplomacy.
Goyal described the agreement as the seventh free trade pact concluded under the current government. Since 2014, India has finalised trade agreements with Mauritius, the UAE, Australia, the United Kingdom, Oman, the European Free Trade Association bloc, and New Zealand. Among these, the agreements with the UK and New Zealand are yet to be implemented, while the others are already operational.
Emphasising the strategic significance of these deals, the minister said all recent trade pacts have been signed with developed economies that have higher per capita incomes than India. According to him, this reflects India’s focus on strengthening trade partnerships with countries whose economies complement India’s growth rather than directly competing with it.
Goyal further noted that the New Zealand agreement is India’s third trade pact with a member of the Five Eyes grouping, which includes the United States, the United Kingdom, Canada, Australia, and New Zealand. He added that India is currently negotiating a trade agreement with the United States and is preparing to initiate similar talks with Canada, signalling continued momentum in India’s global trade engagement strategy.