India & New Zealand completed Free Trade Agreement negotiations in December 2025, preparing for early 2026 signing. The comprehensive pact eliminates tariffs & enhances market access across goods, services, & investment sectors. Current bilateral trade totals approximately $2.5 billion annually, projected to double within five years post-implementation. Steel sector provisions prove strategically significant, positioning Indian manufacturers to serve New Zealand's construction markets. Agricultural provisions balance New Zealand's dairy export interests against India's domestic sensitivities through gradual liberalization schedules.