India-New Zealand Free Trade Agreement Expected to Boost Engineering Exports

New Delhi, October 20 (Daily Kiran) : India's engineering sector is poised for significant growth following the implementation of the India-New Zealand Free Trade Agreement (FTA). According to Pankaj Chadha, president of EEPC India, the agreement is expected to double India's engineering exports to New Zealand over the next five years. Chadha noted that while New Zealand is a relatively small market for Indian engineering products, it holds considerable potential for growth.He expressed optimism about the opportunities that the trade agreement will create for Indian manufacturers. "The India-New Zealand FTA has come into effect today, opening new avenues for the engineering sector. Although New Zealand is a smaller market, it offers ample possibilities," he stated. India's engineering exports to New Zealand are projected to increase from $12.98 million in 2024-25 to $14.05 million in 2025-26. The FTA is expected to assist Indian manufacturers in exploring new opportunities in this market, thereby accelerating export growth.Key engineering products exported from India to New Zealand include automobiles, industrial machinery for the dairy sector, medical and scientific instruments, office equipment, and iron and steel products. Chadha emphasized that this agreement will provide Indian engineering exporters, particularly micro, small, and medium enterprises (MSMEs), with opportunities to diversify their product portfolios and enhance their presence in the New Zealand market.He also highlighted that strengthening engineering trade relations with New Zealand will support India's ambitious target of achieving $250 billion in engineering exports by 2030. EEPC India anticipates that engineering exports to New Zealand could reach between $28 million and $30 million in the next five years, nearly doubling the levels recorded in 2025-26.