Dawn
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11:51 Apr 27, 2026
India and New Zealand signed a free trade deal on Monday as they seek to boost exports amid global economic uncertainty made worse by the war in the Middle East. Negotiations over the agreement concluded in December 2025, and will see India gain greater access for a range of products, including engineering goods, machinery and textiles, while also protecting its sensitive dairy sector. “This forward-looking agreement will also facilitate $20 billion of investment into India,” New Delhi’s Commerce Minister Piyush Goyal said after signing the agreement alongside his New Zealand counterpart, Todd McClay. New Delhi, in return, has offered to reduce tariff barriers in sectors such as forestry, lamb and wool, while granting quota-based access for fruits such as apples. Two-way trade remains modest. Indian data showed merchandise trade at about $1.3bn in 2024-25, while total goods and services trade was estimated at roughly $2.4bn in 2024. The deal was struck at a time when US President Donald Trump’s tariff war had...