India and New Zealand concluded a landmark Free Trade Agreement (FTA in December 2025, marking a significant step in deepening bilateral economic ties between the two countries. Designed as a fast-tracked and forward-looking pact, the agreement focuses on liberalising trade in goods and services, strengthening investment flows, and enhancing mobility for students and professionals, while carefully balancing political and sectoral sensitivities.

This report provides a structured analysis of the India–New Zealand FTA, covering the key terms of the agreement, priority sectors, expected trade and investment impact, and potential risks in implementation. Through sector-wise market sizing (TAM/SAM/SOM), macro-economic modelling, and policy sensitivity analysis, the study highlights where real commercial opportunities lie for Indian exporters, New Zealand producers, and global investors. The objective is to move beyond headlines and offer a practical, decision-oriented view of how the FTA could reshape trade flows and investment outcomes over the medium to long term.