New Zealand's free trade agreement with India has officially begun.
Trade and Investment Minister Todd McClay said 57 percent of exports to India were now tariff-free, including sheep meat and wool, coal, and most forestry products.
The number of tariff-free exports would rise to 82 percent over time, with the next round of tariff cuts due from 1 January 2027.
"We launched talks in March 2025 and, by working harder and faster, concluded them in just nine months. That's a record for India on a comprehensive trade agreement, and it's one of the highest quality deals they've signed," McClay said in a statement.
"Today, just 19 months after we started, it's in force and working for exporters."
McClay said winemakers would be among the biggest winners.
"Our winemakers have been shut out of India by tariffs of 150 percent. Those will now come down to 25 or 50 percent over 10 years and we will also now get the better access negotiated by the EU," he said.
"India is one of the fastest-growing economies in the world and is forecast to reach NZ$12 trillion by 2030. Getting in early, on good terms, matters."
He said the deal with India was essential during an uncertain period in the world economy.
"The India Free Trade Agreement helps our exporters diversify and grow. It's a big step towards doubling the value of our exports in 10 years."