India and New Zealand formally signed a landmark Free Trade Agreement (FTA) on April 27, 2026, during a major industry gathering at Bharat Mandapam in New Delhi. Concluding in a record nine months after formal negotiations were initiated in March 2025, the pact represents one of India's fastest trade agreements to date. From day one, 100% of Indian exports—covering 8,284 tariff lines including textiles, leather, ceramics, and engineering goods—gain immediate duty-free access to the New Zealand market, eliminating prior tariffs of up to 10%. Concurrently, to safeguard domestic agricultural and manufacturing interests, India successfully excluded sensitive sectors such as dairy, onions, sugar, edible oils, and select metals from any tariff concessions.