India-New Zealand FTA finalised; comes into force next month: PM Christopher Luxon
New Zealand and India have finalized a free trade agreement which will take effect next month. This landmark deal opens doors for New Zealand businesses to access India's large consumer market. India will provide duty-free access for one hundred percent of its exports to New Zealand. New Zealand offers market access for seventy percent of its tariff lines to India.
New Zealand and India have formalised a free trade agreement (FTA) that will go into effect on October 20, according to Prime Minister Christopher Luxon. Three years ago, Luxon pledged that his National Party would secure a free trade deal with India within its first term if elected. Commerce Minister Piyush Goyal announced the implementation date of the pact, highlighting the positive impact it will have on businesses, jobs, and incomes for New Zealand.
The agreement aims to double bilateral trade between the two nations to Rs 350 billion by 2030. New Zealand's commitment to the pact includes duty-free market access for 100% of Indian exports, benefiting sectors such as textiles, apparel, leather, gems, engineering goods, and processed food. The FTA also includes provisions for increased agricultural cooperation, services, and investment, as well as enhanced mobility opportunities for Indian students and professionals.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
