Trade deal with New Zealand kicks in today: Where India gains
India and New Zealand have implemented a new trade agreement that provides duty-free access for various Indian products and encourages professional investment. The deal includes specific safeguards for sensitive agricultural sectors.
Why it matters
This agreement strengthens economic ties between the two nations and opens new export markets for Indian MSMEs and farmers.
NEW DELHI: The India-New Zealand trade agreement is set to kick in from Tuesday, allowing duty-free entry for all products from the country, apart from opening the doors for professionals and investment of $20 billion.On Monday, the first-ever export of a JCB machine from India to New Zealand was flagged off by commerce and industry minister Piyush Goyal, with farm products, gems and jewellery, engineering, sports goods, footwear and leather also set to sail on Tuesday, when the agreement comes into force."Ours is a winning partnership, both on and off the field. The success of this agreement will be measured by the opportunities it creates and the difference it makes to the lives of the people of New Zealand and India.
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