India–New Zealand FTA Signed: EPCH Welcomes Landmark Pact Unlocking New Opportunities for Handicrafts Exports

New Delhi, 28 April 2026 – India and New Zealand have signed a historic Free Trade Agreement (FTA) at Bharat Mandapam, New Delhi. Following the signing of the agreement, the Ministry of Commerce & Industry, Government of India, convened a high-level interaction with trade and industry bodies, associations, chambers, and Export Promotion Councils (EPCs). The Export Promotion Council for Handicrafts (EPCH) was represented by R. K. Passi, Former Chairman and Member, Committee of Administration (CoA); Varun Sharma, Member, CoA; and Rajesh Rawat, Executive Director.

The India–New Zealand FTA marks a significant milestone in strengthening bilateral trade relations, providing 100% duty-free access for Indian exports across tariff lines and unlocking substantial opportunities for export growth. The agreement envisages a USD 20 billion investment commitment and introduces 5,000 annual visa pathways for Indian skilled professionals and STEM graduates, thereby facilitating enhanced mobility and employment generation. It is expected to deliver a strong boost to labour-intensive sectors such as handicrafts, textiles, and leather, while also enhancing India’s access to the Oceania region and Pacific Island markets through a comprehensive framework covering trade in goods, services, and investment.

The proceedings commenced with a Business Forum wherein both India and New Zealand shared their perspectives on key pillars of the agreement. The session was co-chaired by Hon’ble Minister of Commerce & Industry, Piyush Goyal, and Todd McClay, Minister of Trade & Investment, New Zealand. This was followed by one-to-one interactions between the Hon’ble Minister and representatives of EPCs. During the interaction, EPCH highlighted several key issues for consideration, including energy and gas supply constraints, retrospective Emergency Conflict Surcharge (ECS), discrepancies in MEIS scrip values vis-à-vis actual entitlements, inclusion of VRIKSH under the TRACE Scheme, and the need for support in ECGC premium and other issues.

Welcoming the landmark agreement, Dr. Neeraj Khanna, Chairman, EPCH, described the India–New Zealand FTA as a defining milestone in India’s global trade journey. He congratulated Hon’ble Prime Minister Narendra Modi for this achievement and noted that the agreement would significantly enhance export opportunities, generate employment, and strengthen India’s competitiveness in the Oceania region.

Sagar Mehta, Vice Chairman, EPCH, stated that the agreement marks a new phase in India’s export growth trajectory, enabling scale expansion and creating employment opportunities, particularly in labour-intensive sectors such as handicrafts.

Dr. Rakesh Kumar, Director General in the role of Chief Mentor, EPCH, termed the agreement a significant leap in India’s global trade and emphasised that it would further position India as a reliable global trade partner while boosting global demand for Indian handicrafts.

Overall, the India–New Zealand FTA is expected to significantly strengthen bilateral trade relations and provide a strong impetus to India’s export-led growth, particularly benefiting the handicrafts sector by enhancing global demand and supporting artisan livelihoods.