India is protecting its dairy and small business sectors while negotiating a free trade agreement (FTA) with New Zealand, Commerce and Industry Minister Piyush Goyal said.
New Zealand wants to sell more farm products like dairy items and wine in India, but India has made it clear that milk and butter are “red lines” and will not be included in the deal.
Instead, both sides are exploring cooperation in areas like dairy machinery and farm technology. Goyal emphasized that India will never compromise the interests of farmers, MSMEs, and the dairy sector.
Talks for this FTA restarted earlier this year after being on hold for almost 10 years. Negotiations first began 15 years ago but stopped in 2015 after 10 rounds. Now, the fourth round is underway, and Goyal said progress has been “significant.”
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New Zealand’s Prime Minister Christopher Luxon said the FTA would boost trade and people-to-people connections, especially in labour mobility.
In 2024, trade between the two countries was nearly $1.5 billion — India exported $752 million worth of goods and services and imported $791 million.
India’s main imports from New Zealand: iron, steel, aluminium, wood, wool, fruits, and lamb.
India’s main exports: medicines, gems, textiles, and agricultural equipment.
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