NEW DELHI: The India-New Zealand free trade agreement (FTA) will come into force on Oct 20 (Dusshera), providing duty-free access to 100% of India’s exports, commerce and industry minister Piyush Goyal announced Monday. And, talks with Canada for a comprehensive economic partnership agreement (CEPA) are moving in top gear.“The next 90 days should be a very defining period in the Canada-India relationship. Both sides have resolved to fast-track negotiations, in view of which our team is now slated to go for the fifth round on Oct 5,” Goyal told reporters. The fourth round of negotiations concluded on Sept 18 and the next one is scheduled in just around a fortnight, indicating that two sides are keen to clinch a deal soon. Canada is in the midst of a trade battle with the US and is seen to be keen to expand its trade footprint and reduce its reliance on its neighbour.India’s major exports to Canada include pharmaceuticals, iron and steel, seafood, cotton garments, electronic goods and chemicals. Key imports from Canada include pulses, pearls and semi-precious stones, coal, fertilisers, paper and crude petroleum. Trade between the two countries stood at $30.4 billion in 2025, with an aim to double it to $70 billion by 2030. Besides, Goyal also expressed confidence regarding the trade pact with Chile. “In the coming few months, we will hear some good news,” he said.Regarding the trade agreement with New Zealand, Goyal said it will help boost bilateral trade between the two countries to Rs 35,000 crore and will help facilitate $20 billion investments in India over next 15 years in sectors such as startups, manufacturing and infrastructure.“We are taking forward the next important milestone in our bilateral economic partnership, reflecting our shared commitment to build a stronger and a more ambitious economic partnership,” Goyal said. The two countries had inked the pact in April this year.Currently, New Zealand maintains tariffs of up to 10% on key Indian goods, including ceramics, carpets, automobiles, textiles and auto components. Goyal added that the pact also establishes an agricultural productivity partnership whereby New Zealand’s technology will meet India’s scale and growing demand.For New Zealand, the pact will provide preferential access to the largest and fastest growing economy of the world, he said.
