Union Commerce and Industry Minister Piyush Goyal, who is in New Zealand to further bilateral talks on the proposed free trade agreement (FTA), said on Wednesday that India consistently protects its vulnerable sectors like dairy and MSMEs in free trade agreements (FTAs).
“India never compromises on the interests of dairy, farmers and MSMEs. We consistently protect the interests of vulnerable sectors,” he said.
While stressing on significant progress that has been made in the negotiations of the proposed trade agreement with New Zealand, the minister said both countries have agreed to respect each other’s sensitivities.
“We respect each other’s sensitivities...we will not touch such issues,” he stated, adding that “a trade deal is clearly on the table”.
However, he did highlight that “India can look at increasing cooperation in farming technologies, like dairy machinery”.
Dairy and agriculture are politically sensitive areas since India has never given any duty concessions in any of its previous trade agreements. On the other hand, New Zealand is a major dairy player in the world and may seek greater market access in the sector.
Earlier, Goyal wrote on his X handle after reaching New Zealand for a four-day visit, saying various sectors hold huge potential for India and New Zealand to enhance cooperation, including defense, agriculture, space, education and tourism.
“Delighted to be in New Zealand to review the progress of the ongoing FTA (Free Trade Agreement) negotiation,” Goyal said in a post on X.
The two countries will look forward to expedite the process for a comprehensive, mutually beneficial economic partnership, the minister added.
The minister met his New Zealand counterpart, Todd McClay, and was to meet industry leaders to explore opportunities for new ventures and collaborations, he shared.
“I will also meet industry leaders along with investors to explore new avenues for collaboration and investment between our two countries,” he said.
The fourth round of India-New Zealand FTA negotiations commenced in Auckland on November 3, after being formally launched on March 16, 2025.
Also Read: India, NZ FTA talks progress
India’s bilateral merchandise trade with New Zealand stood at USD 1.3 billion in 2024-25, registering a growth of nearly 49 per cent over the previous year.
India mainly exports clothing, fabrics and home textiles; medicines and medical supplies; refined petrol; agricultural equipment and machinery such as tractors and irrigation tools, auto, iron and steel, paper products, electronics, shrimps, diamonds, and basmati rice to New Zealand.
Major imports from the country to India include agricultural goods, minerals, apples, kiwifruit, meat products such as lamb, mutton, milk albumin, lactose syrup, coking coal, logs and sawn timber, wool, and scrap metals.
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