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Indian updates
India and New Zealand sign the India-New Zealand Free Trade Agreement
On 27th April 2026, the delegations from India and New Zealand signed the India- New Zealand Free Trade Agreement. The agreement grants 100% duty‑free access to all Indian exports to New Zealand from day one. This eliminates tariffs of up to 10% and significantly boosts competitiveness of textiles, apparel, leather, footwear, engineering goods, and processed foods, while also ensuring duty‑free access to key inputs like wooden logs, coking coal, and scrap for Indian manufacturing. India has liberalised 70.03% of tariff lines with the remaining kept in exclusion to protect sensitive sectors, including dairy, key agricultural products, sugar, gems and jewellery, and base metals. New Zealand will benefit from duty free access to India for forestry and timber, which account for 95% of country’s exports and enjoy duty free exports on wool and coal.
India and South Korea sign Memorandum of Understanding for MSME enterprises
During the President of South Korea’ state visit to India , the delegation from both sides signed a Memorandum of Understanding (MoU) on 20th April 2026 to deepen cooperation in the micro, small, and medium enterprises (MSME) sector. The MoU establishes a framework for sustained information exchange aimed to promote trade and investment through technical and economic cooperation. It is also expected to create initiatives to strengthen linkages between MSME enterprises in both countries.
India and United States of America close to the conclusion of the first tranche of the Bilateral Trade Agreement
Pursuant to the latest round of negotiations held in-person in Washington, India announced that it has advanced negotiations with USA on the Bilateral Trade Agreement (BTA), as the first tranche has been “almost finalised”. The Indian delegation re‑engaged with the delegation from USA and focused the current phase of negotiations on securing preferential market access for Indian goods in the USA, and wider cooperation in technology, defence, and strategic coordination.
Global Updates
UAE-Azerbaijan CEPA enters into force
The UAE–Azerbaijan Comprehensive Economic Partnership Agreement has officially entered into force on 15th April 2026, marking a new phase in bilateral economic relations. The agreement was signed in July 2025 and since then has undergone ratification under domestic laws before becoming operational. Since its entry into force, the CEPA has removed or reduced tariffs on a majority of goods and services, expanded market access, and strengthened private‑sector cooperation, with a particular focus on SMEs and entrepreneurs. The CEPA is Azerbaijan’s first trade agreement to include a dedicated services chapter, opening opportunities in finance, construction, consulting, and professional services.
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