New Delhi, Dec. 22 -- The India-New Zealand Free Trade Agreement (FTA) represents a framework for deeper cooperation rather than a major trade breakthrough, with its real impact depending on how both countries strengthen practical economic links beyond tariff reductions, said the Global Trade Research Initiative (GTRI) in a note.

According to GTRI, given the limited scale of bilateral trade at USD 2.1 billion in FY2025, the FTA is strategic in nature and not volume-driven.

While the agreement brings greater predictability in goods, services, mobility and investment, its success will hinge on building supply chains, expanding services trade, deepening education and skills partnerships, and leveraging the Indian diaspora along with mobili...