India plans to establish an oversight committee to monitor New Zealand's foreign direct investment (FDI) commitments under a recently concluded free trade agreement (FTA). New Zealand has pledged $20 billion in FDI over 15 years. The committee will have the authority to decide on penalties or grace periods if these investment targets are not met, similar to a provision in India's FTA with EFTA countries. The FTA is expected to be signed within months after legal review.