India and New Zealand are set to sign a free trade agreement (FTA) on April 27, 2024, which aims to enhance bilateral trade and investment significantly. The agreement will provide tariff-free access for Indian exports to New Zealand and reduce or eliminate tariffs on 95% of New Zealand's exports to India, including commodities like wool, coal, and wine. This pact is expected to generate $20 billion in investments over the next 15 years and aims to double bilateral trade to $5 billion within five years. Notably, India will maintain duty protections on certain agricultural imports, including dairy products and spices, to safeguard local farmers. Additionally, the agreement will facilitate a temporary employment visa pathway for 5,000 Indian professionals annually in skilled occupations, allowing them to stay in New Zealand for up to three years. In the fiscal year 2024-25, bilateral merchandise trade was recorded at $1.3 billion, with total trade in goods and services reaching approximately $2.4 billion.