India and New Zealand will begin in April negotiations for a comprehensive free trade agreement in goods, services and investments to enhance economic engagement from the present size of $612.3 million.
A feasibility study commissioned by the two governments has found that the proposed pact would be mutually beneficial for the two cricket playing nations.
"There are huge trade opportunities in New Zealand. The negotiations will be kicked off in April," Joint Secretary in the Commerce Ministry P K Dash said here at a FICCI function.
Businesses from the two sides are expected to gain in number of areas like education, telecommunications, bio-technology and information technology.
Food and beverages, coal, agricultural technologies and tourism are other key areas for trade between the two countries and bilateral trade between the countries was $612.3 million in 2008-09.
India, which signed trade pacts with South Korea and the 10-Nation Asean last year, is engaged in negotiations for market opening bilateral agreements with several countries including Malaysia, Thailand, Indonesia and Japan.