India-NZ free trade agreement: An explainer:Both countries to sign deal today; kiwifruit, wine, apples other items may become cheaper

India and New Zealand on Monday, 27 April, 2026, will sign a free trade agreement (FTA) to boost trade of goods and services between the two countries and promote investments. The pact will come into force on a date that both sides would mutually decide. Once in a generation agreement: NZ PM Luxon Items that may become cheaper in India: Wines that India imports from the Oceania country are expected to become gradually cheaper as duties will be reduced over a period of 10 years. Duties on several seafood items, such as mussels and salmon, will be eliminated over a period of seven years. The levy will be removed on a number of iron, steel and scrap aluminium items over a period of 10 years or less. Kiwifruit, apples, honey, wood, wool, sheep meat, vegetable oil, medicines, etc. might alos become cheaper but not all items which are imported. Further, the import duty on avocados and persimmons by India will be eliminated in 10 years. Exceptions: To protect the interests of farmers and MSMEs, India has not extended any import duty concessions to New Zealand on several sensitive sectors, including dairy, animal products, vegetables, sugar, copper and aluminium. Products that are kept in the exclusion list are: Dairy (milk, cream, whey, yoghurt, cheese etc.), animal products (other than sheep meat), vegetable products (onions, chana, peas, corn, almonds etc.), sugar, artificial honey, Animal, vegetable or microbial fats and oils. The list also includes Arms and Ammunition, Gems and Jewellery, Copper and Articles (Cathodes, Cartridges, Rods, Bars, Coils ), Aluminium and articles thereof (Ingots, billets, wire bars) Products that are kept in the exclusion list are: PM Modi’s vision is to transform global partnerships into gains for farmers, says Goyal NZ commits $20 billion investment New Zealand has committed to invest $20 billion (₹1.88 lakh crore) in India over 15 years. Kiwis would invest in the following sectors: India-NZ trade size: The bilateral trade between India and New Zealand stood at $2.4 billion (₹22,560 crore) in 2024. (With inputs from PTI)