India–New Zealand FTA A Win-Win Deal, Will Boost Jobs, Exports And Investments: Piyush Goyal

Union Minister of Commerce & Industry Piyush Goyal called the recently concluded India-New Zealand free trade agreement (FTA) a “win-win deal” in an article published in the Economic Times, adding that it will create greater opportunities for small businesses, students, women, farmers, and youth across India.

Goyal also added that it marks a consistent effort to expand global trade partnerships that complement India’s growth story.

Yesterday, India and New Zealand concluded the free trade agreement, which will allow zero-duty access to 100 per cent of Indian exports. This was India’s 7th FTA agreement in the recent time.

“Each agreement has been negotiated after extensive consultations with all stakeholders, ensuring balanced outcomes and genuine

win-win engagement with the developed world,” Goyal wrote in the article.

A central pillar of this FTA is job creation, Goyal wrote, saying that the FTA will offer a major boost to India’s labour-intensive sectors such as textiles, leather, apparel, footwear, marine products, gems and jewellery, handicrafts, and engineering goods.

In the ET article, he also said that India has secured its best-ever market access and services offer, covering 118 services sectors, including telecommunications, construction, IT, financial services, travel, and tourism.

“The agreement provides improved entry and stay provisions for Indian professionals and students. It enables work opportunities during studies, post-study employment, and a structured working-holiday visa framework,” Goyal wrote in the ET article.

Echoing the sentiment of PM Narendra Modi’s vision on Indian farmers, Goyal wrote that the agreement establishes an Agricultural Productivity Partnership covering apples, kiwi, and honey, aimed at enhancing domestic productivity and increasing farmer incomes.

Goyal also added that the government has secured the Indian rice farmers by negotiating for New Zealand to commit to GI-level protection for Basmati rice.

He also wrote that the FTA has ensured that sensitive sectors as rice, dairy, wheat, soya, and other key agricultural products remain fully protected, with no market opening that could harm domestic livelihoods.

New Zealand, Goyal wrote in the article, has committed to Foreign Direct Investment of USD 20 billion over the next 15 years, mirroring the innovative investment-linked provisions in India’s FTA with EFTA countries—Switzerland, Norway, Iceland, and Liechtenstein.

“For New Zealand, this marks a giant leap in Foreign Direct Investment in India. Over the past 25 years, New Zealand invested about ₹643 crore in India. The new commitment—approximately ₹1.8 lakh crore over 15 years—represents a dramatic expansion, backed by a clawback mechanism if investment targets are not met,” Goyal added.

The Minister also said this agreement marks a historic milestone as it is India’s first women-led FTA.

“Almost the entire negotiating team—from the chief negotiator and deputy chief negotiator to leads for goods, services, investment, and our ambassador to New Zealand—comprised women. Our women of substance are increasingly playing leadership roles in the PM’s development agenda,” he wrote in the article.