India and New Zealand to sign historic free trade agreement on April 27, targeting significant economic expansion. The pact grants Indian companies duty-free access to New Zealand's markets while attracting USD 20 billion in investment over 15 years. The agreement aims to double bilateral trade to USD 5 billion within five years. India secures improved temporary employment visas and easier pharmaceutical access. New Zealand gains duty-free treatment for wool, coal, and forestry products, with quota-based cuts for kiwifruit and apples. India strategically protects domestic farmers by maintaining tariffs on dairy, onions, sugar, and spices. This deal strengthens India's trade diversification in the Oceania region amid global uncertainties and complements existing agreements like the Australia pact.
