India-New Zealand free trade agreement to take effect from Oct 20: Piyush Goyal

India is expected to see rapid progress on four trade deals before the end of the year , the operationalisation of the free trade agreement with New Zealand in October, the signing of the EU FTA by December, the formalization of the Chile deal shortly, and fast-tracking negotiations with Canada within 90 days, senior officials said.

New Zealand FTA to take effect on October 20

“India-New Zealand FTA coming into force on 20th October 2026, on the occasion of Vijay Dashami,” commerce minister Piyush Goyal said on Monday. Explaining the significance of the festival to New Zealand trade minister Todd McClay through a video conference, he said it celebrates the triumph of good over evil and called the deal “a Vijay (win) for both nations.”

All Indian exports to New Zealand will be duty free from the day of its operationalisation, the minister said. At present, New Zealand has peak tariffs of up to 10% on key Indian goods such as ceramics, carpets, automobiles, and auto components.

According to the terms of the agreement, New Zealand has also committed foreign direct investments worth $20 billion in India over the next 15 years. Goyal said India will set up dedicated investment facilitation desks to help investors from the country. “Looking forward, our immediate priority should be to ensure that the provisions of the agreement immediately translate into tangible benefits for businesses and people of India and New Zealand,” he said.

Farmers and dairy sector interests protected

Goyal said India had fully protected the interests of domestic farmers and the dairy sector while selectively leveraging New Zealand’s strength in efficient farming practices. India has also kept onions, chickpeas, peas, corn, almonds, artificial honey and sugar out of the FTA.

McClay termed the FTA a “high quality agreement” and said that at a time of global economic uncertainties, the bilateral trade deal would give confidence to business communities of the two nations. India and New Zealand signed the FTA on April 27. The negotiations began on March 16, 2025 and were concluded in just nine months on December 22, 2025.

Also read: India secures EU steel quota, seafood and shipbreaking concessions ahead of FTA

Canada talks set for fifth round in October

Goyal hinted at a similar fast-tracking of the India-Canada FTA negotiations. After the conclusion of the fourth round in New Delhi on September 18, the visiting Canadian delegation, led by Canadian trade minister Maninder Sidhu met Goyal in Mumbai on Friday.

The two nations are scheduled to commence the fifth round of talks for a Comprehensive Economic Partnership Agreement (CEPA) from October 5, Goyal said. “The next 90 days should be a very defining period in the Canada-India relationship,” he said, adding that “both sides have resolved to fast-track negotiations.” The minister said the India-Chile FTA negotiations are expected to be concluded in a few months. Commerce secretary Rajesh Agarwal recently visited Chile to review the progress of talks, Goyal said. “I believe in the coming few months, we will hear some good news,” he added. An official, who did not want to be named, said India is very close to finalising a Comprehensive Economic Partnership Agreement (CEPA) with Chile, a country rich in critical minerals.