<h1>Third negotiation round closes; FTA talks make strong progress, several chapters closed, trade up 49%, next round October 2025</h1> The third round of free-trade agreement negotiations between the two countries concluded on 19 September 2025 in Queenstown, following the FTA launch in March 2025; delegations reported constructive discussions across all chapters, with several chapters closed and significant progress in other areas. Bilateral merchandise trade reached USD 1.3 billion in FY 2024-25, a nearly 49% increase year-on-year, and the agreement is expected to further boost trade, investment, supply-chain resilience, and business predictability. Parties will pursue inter-sessional engagement ahead of the next in-person round in New Delhi on 13-14 October 2025.