27th APRIL 2026 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS
Free Trade Agreement Signed with New Zealand
- During an event held today at Bharat Mandapam in Delhi, India's Union Minister of Commerce, Piyush Goyal, and New Zealand's Minister of Commerce, Todd McClay, signed a Free Trade Agreement between India and New Zealand.
- Under this agreement which encompasses sectors such as agriculture, textiles, pharmaceuticals, engineering, information technology, commercial services, education, construction, and healthcare more than 8,000 Indian products can be exported to New Zealand without any additional tariffs.
- These trade negotiations, which commenced in March 2025, were concluded within just nine months, by December. This agreement is regarded as one of India's fastest-negotiated trade pacts.
- Under this agreement, approximately 8,284 products exported from India including leather goods, handlooms, and handicrafts will be granted 100 percent tariff exemption in New Zealand. Furthermore, tariffs on imports from New Zealand to India such as wool, timber, coal, and fruits will be reduced.
- However, with the interests of Indian farmers in mind, certain sectors including dairy products, onions, pulses, and sugar have been exempted from tariff concessions.
- In New Zealand, visas will be granted to 5,000 professionals from India's Information Technology, Healthcare, and Construction sectors.
- Moreover, New Zealand has pledged to invest approximately 20 billion US dollars in India over the next 15 years. Both nations have set a target to increase their bilateral trade volume currently standing at 1.3 billion dollars to 5 billion dollars within the next five years.
