Historic Trade Pact Ushers New Era for India and New Zealand
India and New Zealand will sign a historic free trade agreement aimed at providing tariff-free access for exports and driving USD 20 billion in investments over 15 years. This agreement will double bilateral trade to USD 5 billion by eliminating tariffs on various goods, while protecting sensitive domestic sectors.
- Country:
- India
In a move set to redefine trade dynamics between India and New Zealand, the two nations will sign a long-awaited Free Trade Agreement (FTA) on April 27, as announced by Prime Minister Christopher Luxon on Friday.
The agreement seeks to provide tariff-free market access for Indian exports, while New Zealand anticipates zero or reduced tariffs on 95% of its exports, including agricultural and energy commodities.
Despite the comprehensive nature of the deal, New Delhi has carefully preserved its domestic agriculture industry by excluding dairy and select agricultural imports from any tariff concessions.
(With inputs from agencies.)
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