Goyal holds talks with NZ minister to fast-track free trade negotiations

India and New Zealand on Monday stepped up efforts to clinch a long-pending Free Trade Agreement (FTA), with Commerce and Industry Minister Piyush Goyal holding bilateral talks with New Zealand’s Trade Minister Todd McClay in Mumbai.

Officials said the discussions focused on narrowing gaps across key areas of trade in goods and services, with both sides reporting “substantive progress” in the latest round of negotiations. Several elements had been closed, they added, raising hopes of an early conclusion to the pact. Bilateral merchandise trade between the two countries touched $1.3 billion in 2024-25 — a nearly 49 per cent jump from the previous fiscal.

The ministers noted that a balanced FTA could help boost this momentum by deepening investment ties, improving supply-chain resilience and creating a more predictable framework for businesses. The talks also explored cooperation in services, innovation-led sectors and technology partnership — areas India believes hold major untapped potential.

Close to sealing FTAs with EU, NZ: Comm Secy

Commerce Secretary Rajesh Agrawal on Monday said India's FTA negotiations with the EU and New Zealand were in the final stages and expected to conclude soon. He said a team of Indian negotiators was also in the UK to discuss the Double Contribution Convention agreement.