ET Graphics: India, New Zealand inch closer to Free Trade Agreement after 10-year hiatus

India and New Zealand are likely to conclude negotiations for a Free Trade Agreement this week, the talks for which restarted this year in March after a hiatus of ten years. ET’s Kirtika Suneja traces the timeline and framework of the proposed agreement.

As exporters struggle to stay afloat, the message is clear — India’s trade resilience will depend on how quickly it adapts to shifting global trade realities and recalibrates its strategy to protect its most competitive sectors.

India is working to attract more foreign investment. Commerce Minister Piyush Goyal stated that foreign direct and institutional investment are being enhanced. Export growth is expected to accelerate in FY26. The government also supports channeling capital from insurance and pension funds into startups. India aims to strengthen its global trade position and secure favorable trade […]

The government has temporarily lifted import restrictions on specific stainless steel items until the year’s end, driven by a shortage of local production. Manufacturers are apprehensive about losing their market foothold and the potential hindrance to their investment in future capacity. They argue that these exemptions might lead to an influx of below-par steel imports […]

Russia has become India’s largest sunflower oil supplier, with imports surging twelvefold in four years, displacing Ukraine. This shift is attributed to Russia’s reliable seaports and competitive pricing, especially as Ukraine diverts produce to Europe. Despite a recent price increase impacting overall imports, Russia’s significant share is expected to persist.

India is nearing trade agreements with the European Union and the United States. Meanwhile, Indian products face substantial import duties in the US. These tariffs, totaling fifty percent, have been described as unfair by New Delhi. Discussions are ongoing to resolve these trade matters.

EAC-PM Chairman S Mahendra Dev urged India to diversify exports, expedite FTAs, and continue trade talks with the US. He highlighted opportunities for India to boost its share in global merchandise trade, emphasizing the need for stronger export growth and more medium-sized manufacturing units to achieve sustained economic expansion.

The US has granted India a six-month sanctions waiver for its operations at Iran’s Chabahar Port, a move seen as a strategic concession amidst ongoing trade deal negotiations. This extension supports India’s regional connectivity plans, particularly its gateway to Afghanistan and Central Asia, signaling Washington’s willingness to accommodate New Delhi’s geopolitical interests.

The United States has granted India a six-month exemption from sanctions for operations at Iran’s Chabahar port. This waiver is crucial for India’s regional connectivity plans, including trade with Afghanistan, Central Asia, and Russia, and bypasses Pakistan. India recently signed a 10-year agreement to operate the port.

Beginning November 1, a 30% import duty will be levied on yellow peas. Any shipments with a bill of lading dated on or before October 31 will avoid this charge. Previously, the government allowed duty-free imports until March 2026, but this new regulation significantly impacts future yellow pea imports.