New Zealand introduced the implementing legislation in Parliament in June and has since referred it to a select committee, which will prepare a report for the House before the bill is taken up for passage.
India and New Zealand signed the trade agreement in April, under which New Zealand will eliminate duties on all Indian goods. The agreement also includes a commitment by New Zealand to invest $20 billion in India over the next 15 years, with a provision allowing New Delhi to withdraw certain benefits under the pact if the investment commitments are not fulfilled.
India, meanwhile, has committed to lowering tariffs on around 95 per cent of imports from New Zealand. India exported goods worth $567 million to New Zealand in FY26 and recorded a trade deficit of $23 million.
India and the US are likely to hold bilateral trade discussions on the sidelines of the G20 Trade Ministers’ meeting scheduled for September 30-October 1 in Wisconsin, the official said. Additional secretary at commerce ministry Darpan Jain, who is also India’s chief negotiator for the proposed bilateral trade agreement (BTA), is also likely to visit the US for chief negotiator-level engagements on sidelines of G20, the official added. However, the discussions are unlikely to yield any substantial outcome, the official added. “Bilateral talks at multilateral events often deliver solid results.”
So far, New Delhi has maintained that it will proceed with the trade agreement only after Washington ensures tariff advantage to Indian exporters over competing economies. Commerce and Industry Minister Piyush Goyal reiterated this position on Thursday.
India is also likely to hold a bilateral meeting with China on trade on the sidelines of the Brics Summit in New Delhi on September 12-13, the official said. The discussions could cover India’s widening trade deficit with China and concerns over transshipment, the official added.
China has remained India’s largest source of imports for several years, with India’s trade deficit with the country widening to $112 billion in FY26.
Chile talksSeparately, India is targeting the conclusion of FTA negotiations with Chile by the end of October, a second government official said.
Access to critical minerals from Chile is among New Delhi’s key priorities in the negotiations, as India seeks to secure supplies of minerals essential for manufacturing and clean-energy industries.
In Latin America, India is also negotiating an FTA with Peru and seeking to expand its existing preferential trade agreement (PTA) with the Mercosur bloc. With a stable government now in place in Peru, New Delhi expects negotiations to gain momentum, the official said. Peru had earlier de-prioritised the talks amid its election process.
Faster data dissemination
Alongside expanding its trade agreements, the commerce ministry is also seeking to improve the timeliness of trade data through a revamp of the Directorate General of Commercial Intelligence and Statistics (DGCIS), the first official said. Starting next year, the ministry is looking to bring forward the release of monthly trade data to the 10th of every month from the current 15th, the official said.
The move is aimed at improving the timeliness of trade information as the government seeks to strengthen its monitoring of exports, imports and evolving global trade patterns.
