India and New Zealand Free Trade Agreement to Take Effect on October 20
· Business · LiveMint, Business Standard
Commerce and Industry Minister Piyush Goyal announced that India's free trade agreement with New Zealand will come into force on Tuesday, providing duty-free access for all Indian goods. Labour-intensive sectors such as textiles, apparel, leather, footwear, gems, and jewellery are expected to be the primary beneficiaries. The pact grants New Zealand preferential access for 70% of products, while sensitive domestic sectors like dairy remain protected outside tariff concessions. Goyal noted that the agreement aims to catalyze $20 billion in investments into India and more than double bilateral trade to about $7 billion by 2030.
Why it matters
The trade pact opens up duty-free export channels for Indian labour-intensive industries while protecting sensitive domestic agricultural sectors from heavy import competition.
Read the original report — LiveMint
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