Commerce and Industry Minister Piyush Goyal has said that the free trade agreement (FTA) with New Zealand, which is scheduled to be signed on April 27, 2026 is expected to boost trade between India and New Zealand in the coming months. The FTA will create significant opportunities for domestic firms, including leather exporters from the city of the Taj Mahal. Agra is one of India's largest leather and footwear clusters, playing a key role in both domestic supply and exports.

Piyush Goyal and New Zealand's Trade and Investment Minister Todd McClay held discussions with businesses from different sectors, including leather and sports goods. The FTA aims to double bilateral trade and facilitate duty-free access to the island nation's markets for Indian companies, and attract $20 billion in investment over the next 15 years.

Goyal stated ‘Goods exported from India to New Zealand will go without any tax, creating significant opportunities, including for Agra's leather industry and other sectors’. Moreover, he added the pact is expected to enhance two-way commerce which stood around $2.4 billion