New Delhi, Apr 26 (PTI) More than four months after announcing the conclusion of negotiations on December 22 last year, India and New Zealand are set to sign their free trade agreement on April 27, aimed at doubling bilateral trade between the two countries.

The pact will give India companies duty-free access to the island nation's markets, and bring in USD 20 billion of investment over the next 15 years.

The pact will be signed in the presence of Commerce and Industry Minister Piyush Goyal and Todd McClay, New Zealand's Minister for Trade and Investment, here at Bharat Mandapam, according to the commerce ministry.

The deal will also give India more temporary employment visas, easier access for pharmaceuticals and medical devices.

While the agreement will eliminate or reduce tariffs on 95 per cent of New Zealand's exports of items ranging from wool, coal, wood, wine, to avocados and blueberries to India, New Delhi made no concessions on allowing imports of dairy, onions, sugar, spices, edible oils and rubber to protect farmers and domestic industry.

New Zealand, which committed to investing USD 20 billion in India over the next 15 years in manufacturing, infrastructure, services, innovation and job creation, will also get quota-based tariff cuts for kiwifruit and apple exports.

The deal is aimed at doubling bilateral trade to USD 5 billion in five years. The pact will help Indian exporters, reeling under the impact of global uncertainties, including the West Asia crisis, diversify shipments in the Oceania region. India has already implemented a trade pact with Australia.

Under the pact, New Zealand will get duty-free access to goods such as sheep meat, wool, coal and over 95 per cent of forestry and wood articles.

Besides it will also get duty concessions on a number of items such as kiwifruit, wine, some seafood, cherries, avocados, persimmons, bulk infant formula, Manuka honey, and milk albumins.

To protect the interests of domestic farmers and MSMEs, India will not give any duty concessions in the politically sensitive dairy sector, like milk, cream, whey, yoghurt, and cheese.

The other products that will not be covered under the pact include vegetable products (onions, chana, peas, corn, almonds), sugar, artificial honey, animal, vegetable or microbial fats and oils, arms and ammunition, gems and jewellery, copper and its products, and aluminium and articles.

As regards the services sector, New Zealand will give a temporary employment entry visa pathway for Indian professionals in skilled occupations with a quota of 5,000 visas annually and a stay of up to three years.

This pathway covers Indian professions such as AYUSH practitioners, yoga instructors, Indian chefs, and music teachers, as well as high-demand sectors, including IT, engineering, healthcare, education, and construction, strengthening workforce mobility and services trade.

Further under the pact, New Zealand will set up a dedicated Agri-Technology Action Plan on kiwifruit, apples and honey with a view to help Indian farmers enhance productivity and quality.

The cooperation includes the establishment of centres of excellence, improved planting material, capacity building for growers and technical support for orchard management, post-harvest practices, supply chain performance, and food safety.

Commitment has been extended by New Zealand on Geographical Indications (GIs), including amendment of its law to facilitate the registration of India's wines and spirits.

Apart from tariff liberalisation, the pact includes provisions to address non-tariff barriers through enhanced regulatory cooperation, and streamlined customs, sanitary and phyto-sanitary measures and technical barriers to trade disciplines.

The pharma and medical devices sector of India will get a boost through faster regulatory access in New Zealand by enabling acceptance of GMP (Good Manufacturing Practice) and GCP (Good Clinical Practice) inspection reports from comparable regulators, including approvals by the US Food and Drug Administration (FDA), EU's European Medicines Agency (EMA), UK's Medicines and Healthcare products Regulatory Agency (MHRA).

This will reduce duplicative inspections, lower compliance costs, and expedite product approvals, thereby facilitating the growth of India's pharmaceutical and medical devices exports to New Zealand.

The NDA government has so far finalised FTA with the UAE (implemented in May 2022), Australia (implemented in December 2022), the UK (signed in July 2025), EFTA bloc (implemented in October 2025), Oman (signed in December 2025), European Union (announced closure of negotiations in January 2026), and Mauritius (came into force from April 2021).

India has so far finalised FTAs with three members of the Five Eyes (FVEY) alliance -- Australia, the UK, and New Zealand. The five intelligence-sharing network countries are Australia, Canada, New Zealand, the UK, and the US. Negotiations for a trade deal are ongoing with the US and Canada.

Bilateral merchandise trade between India and New Zealand stood at USD 1.3 billion in 2024-25, while total trade in goods and services reached about USD 2.4 billion in 2024, with services trade alone reaching USD 1.24 billion, led by travel, IT, and business services. PTI RR TRB