India eyes a $20 billion pot of gold in New Zealand as its trade pact goes live
The free trade agreement between India and New Zealand promises to promote trade and enhance professional movement. While some goods may enjoy duty-free status, a significant rise in merchandise exports might take time. However, New Zealand's engagement in several service sectors holds potential benefits for Indian companies. The agreement also opens up new job opportunities for Indian students…
India's free trade agreement (FTA) with New Zealand, which went into effect on Tuesday, offers Indian goods duty-free access to the New Zealand market and opens opportunities for students and skilled professionals. While the immediate boost to merchandise exports may be modest, services and professional mobility are expected to yield bigger gains.
New Zealand has eliminated import duties on all Indian goods and committed to providing MFN treatment in 139 sectors, including information technology, healthcare, education, financial services, and telecommunications. The agreement also allows Indian students to work up to 20 hours per week and offers three-year post-study work visas for graduates in science, technology, engineering, and mathematics, as well as four-year visas for doctorate holders.
Skilled professionals from India can also take advantage of temporary employment pathways and a Work and Holiday scheme for young Indians.
Brief written by urgent.news from The Economic Times - Economy's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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