India-New Zealand FTA To Boost Trade
India and New Zealand are set to sign a Free Trade Agreement in New Delhi, with Commerce and Industry Minister Piyush Goyal saying the pact will create major opportunities for Indian exporters and domestic industries.
India-New Zealand FTA Signing In Delhi
The agreement is scheduled to be signed at Bharat Mandapam by Piyush Goyal and New Zealand’s Minister for Trade and Investment Todd McClay. The deal marks a major step in economic ties between the two countries after trade negotiations were revived following a long gap.
The pact is expected to improve market access, reduce tariff barriers and support stronger business links between India and New Zealand.
Piyush Goyal Highlights Export Opportunities
Goyal said the agreement would create “huge opportunities” for Indian businesses, especially sectors with strong export potential. He pointed to Agra’s leather and footwear industry as one of the key beneficiaries, saying Indian goods exported to New Zealand would gain tax-free access under the pact.
Agra is a major footwear and leather goods hub, with many small and medium enterprises dependent on export growth and better overseas market access.
FTA To Strengthen Bilateral Trade
The agreement is expected to support sectors such as leather, footwear, AYUSH, pharma, medical devices, light engineering and sports goods. Goyal also launched the “Agra: World Capital of Footwear” brand campaign to position the city as a global sourcing destination.
The India-New Zealand FTA is also aimed at expanding two-way trade, which currently stands at around $2.4 billion. Both countries expect the pact to strengthen investment, employment and business cooperation in the coming years.
