NZ Trade and Investment Minister Todd McClay exchanged the formal ratification documents with India's High Commissioner to New Zealand, Muanpuii Saiawi in parliament on Monday.
McClay said 57 per cent of New Zealand exports to India will be tariff-free from day one, including wool and coal, while more than 95 per cent of forestry and wood exports will also receive tariff-free access.
He said exporters would benefit from a second round of tariff cuts from January 1, 2027.
"The New Zealand-India FTA will level the playing field," McClay said, adding that greater market diversification was increasingly important as global markets become more uncertain.
NZ Prime Minister Chris Luxon confirmed the FTA had been finalised, describing it as "one of the proudest" things he'd done during his time in office.
The agreement will also provide preferential quota access to India for New Zealand albumins, apples and kiwifruit.
For textile and wider goods exporters, the key implementation date is October 20, with wool among the products receiving immediate tariff-free access and further tariff reductions scheduled for January 1, 2027.
Both nations originally signed the FTA in April.
Two-way trade totalled $NZ3.99 billion ($A3.22 billion) in the year to June 2026, with India ranking as New Zealand's ninth-largest goods and services export market.
with AAP
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