India and New Zealand are set to sign a landmark free trade agreement (FTA) today, which is expected to come into effect later this year after undergoing parliamentary scrutiny in New Zealand. Prime Minister Christopher Luxon emphasized the significance of the agreement, calling it a 'once in a generation' opportunity for Kiwi exporters to access India's market of 1.4 billion people. The FTA will allow New Zealand to initiate a formal parliamentary treaty examination, which includes public consultation and is anticipated to take at least six months before ratification. Union Commerce Minister Piyush Goyal highlighted that the agreement will eliminate taxes and import duties on Indian goods entering New Zealand, benefiting sectors such as leather and handicrafts, particularly from Agra. Additionally, the agreement includes a proposed $20 billion investment commitment from New Zealand to India over the next 15 years. Under the terms, India will secure zero-duty access for all goods from New Zealand while allowing market access across 70.03% of tariff lines, covering 95% of New Zealand's exports. This agreement reflects the shared ambition of both nations to deepen their economic ties.