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India and New Zealand conclude Free Trade Agreement Negotiations on Financial Services, a part of Annex to the Trade in Services Chapter Negotiations on financial services annex commenced in May 2025; Comprehensive financial services annex text evolved into 18 articles through India's constructive
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The negotiations have concluded on the Financial Services Annex, which aims to strengthen bilateral cooperation, facilitate market access, and integrate the financial systems of both countries.
The agreement includes provisions to collaborate on domestic payments interoperability and real-time cross-border remittances, strengthening India's digital payment ecosystem and creating market opportunities for Indian payment service providers leveraging systems like UPI and NPCI.
Both countries have committed to strengthening collaborative efforts in financial services innovation, including learning from each other's Regulatory Sandbox and Digital Sandbox frameworks for cross-border applications.
The agreement facilitates financial service suppliers to establish cross-border digital operations while ensuring regulatory control over data sovereignty and consumer privacy protections.
Indian financial institutions will receive parity of treatment with New Zealand domestic institutions, facilitating market access and preventing discriminatory practices. The agreement also includes enhanced Foreign Direct Investment limits and a liberalised bank branch licensing framework.
Yes, the FTA establishes clear market access commitments, regulatory transparency, and cooperation frameworks designed to facilitate increased bilateral investment and institutional presence for financial service providers from both countries.
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