India and New Zealand have formalized a free trade agreement (FTA) that includes a $20 billion investment commitment from New Zealand, aimed at enhancing bilateral trade and economic cooperation. Signed by India's Commerce and Industry Minister Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McClay in New Delhi, the FTA provides duty-free access for 100% of Indian exports to New Zealand, covering all tariff lines. This is expected to significantly benefit micro, small, and medium enterprises (MSMEs) in India, fostering innovation and supporting women-led businesses. The agreement will also create new employment opportunities and deepen bilateral ties. New Zealand Prime Minister Christopher Luxon emphasized the deal's potential to diversify New Zealand's export markets and enhance agricultural collaboration. The FTA includes provisions for market access in 118 service sectors and establishes a new temporary employment entry visa pathway for skilled Indian professionals, allowing for 5,000 visas at any time. Additionally, the agreement will streamline trade processes, including cargo clearance timelines, and enhance intellectual property protections for Indian goods. The bilateral merchandise trade between the two countries stands at approximately $1.3 billion.