By EMA Head of Membership and Export Simon Devoy
Trade agreements are often judged by what they fail to achieve. The newly signed India–New Zealand Free Trade Agreement is no exception.
Some commentators have focused on the concessions not won, particularly in dairy, where India continues to maintain strong protections around products such as butter, cheese and milk powders. New Zealand’s lead negotiator, Vangelis Vitalis, has acknowledged the challenges involved in securing meaningful access to one of the world’s most complex and politically sensitive markets.
But after more than a decade of stalled negotiations, perhaps the more important question is not what the agreement didn’t achieve, it’s what it did.
The deal signed in New Delhi by Trade and Investment Minister Todd McClay and Indian Minister for Commerce and Industry Piyush Goyal represents New Zealand’s first comprehensive trade agreement with the world’s fastest-growing major economy and a market of more than 1.4 billion people.
It is, as the Government has described it, a once-in-a-generation agreement.
And now that the negotiation is over, attention is turning to what comes next.
To help businesses understand the opportunities emerging from the agreement, the Employers and Manufacturers Association (EMA) is hosting a special briefing event, India–NZ FTA: Unlocking a Generational Opportunity, featuring New Zealand’s chief negotiator on the deal, Vangelis Vitalis.
There are few people better placed to explain both the challenges and opportunities within the agreement.
As New Zealand’s lead negotiator, Vitalis sat at the centre of one of the country’s most strategically significant trade discussions. He understands where compromises were made, where gains were secured, and where opportunities remain for New Zealand exporters willing to invest in the Indian market.
For many businesses, that perspective will be invaluable.
Trade agreements are rarely perfect. They are the product of competing national interests, political realities and economic priorities. India has historically been one of the most difficult markets in the world to negotiate with, particularly when it comes to agriculture.
The final agreement reflects those realities.
While gains for dairy exporters remain limited, New Zealand secured improved access in a range of other sectors, including tariff reductions for products such as kiwifruit, apples and honey. New opportunities have also emerged for infant formula and specialised protein products.
The broader significance of the agreement, however, extends well beyond individual tariff lines.
India is undergoing rapid economic transformation. Its middle class continues to expand, infrastructure investment is accelerating, manufacturing is growing and demand for high-quality food, technology, education and professional services is increasing.
For New Zealand businesses seeking growth beyond traditional markets, India represents one of the most compelling opportunities of the next decade.
That opportunity is particularly important at a time when global trade is becoming more fragmented and geopolitical uncertainty continues to reshape supply chains and investment decisions.
At the EMA event, Vitalis will unpack the strategic significance of the agreement, explain what market access commitments mean in practice and outline the implementation pathway businesses need to understand as tariff reductions begin to take effect.
The discussion will also explore opportunities across goods, services and investment, along with the practical steps exporters should take to position themselves for success.
The event will also feature the participation of the Dr Madan Mohan Sethi, Consul General of India, who will reflect on the growing importance of the bilateral relationship and the opportunities that closer economic ties can create for businesses in both countries.
The reality is that while trade agreements create the blueprint for export growth, success ultimately depends on companies understanding the opportunities available, building relationships, navigating regulatory requirements and committing to markets for the long term.
The negotiation phase is complete. The agreement has been signed. The best deal achievable under the circumstances has been secured.
Now the challenge is turning that agreement into commercial outcomes.
For New Zealand exporters and manufacturers, that journey starts with understanding where the opportunities lie.
And there may be no better place to begin that conversation than hearing directly from the person who helped deliver the deal.