India-NZ trade deal: Going beyond complementarities

With a series of disruptions in recent years, marked by geopolitical tensions and the reconfiguration of global supply chains, the geometry of trade agreements is being reimagined.

- Rajesh Agrawal

For like-minded democracies, the question is no longer whether to integrate, but how deeply and how fast. India has increasingly cast its gaze eastward — to the Indo-Pacific — in search of partners that share its vision for economic integration and prosperity for its people. In New Zealand, it has found precisely that.

The relationship extends beyond trade. There are approximately 300,000 persons of Indian origin living in New Zealand, nearly 5% of its population — forming a bridge that is as cultural as it is economic. It is, therefore, not surprising that bilateral merchandise trade, which reached $13 billion in FY25, is already witnessing a 49% increase from the previous year. Services trade, too, has grown by 13%.

The strength of the partnership lies in its inherent complementarity. India offers scale—1.4 billion people, a burgeoning middle class, and a world-class services infrastructure. New Zealand offers specialisation — high-tech agriculture, sustainable forestry, and niche manufacturing technologies.