New Delhi: India and New Zealand Free Trade Agreement (FTA) comes into force on the occasion of Vijay Dashami today. The agreement will provide duty-free access for 100 per cent of Indian exports to New Zealand. Addressing a ceremony on India-New Zealand Free Trade Agreement in New Delhi, Commerce and Industry Minister Piyush Goyal said that the agreement is aligned with the vision of Prime Minister Narendra Modi for Viksit Bharat 2047. He said, the agreement opens significant new opportunities for India’s exporters, particularly MSMEs, artisans, farmers and pharma. The Minister highlighted that both the countries have agreed to work towards the goal of doubling bilateral trade in goods and services with New Zealand to approximately 35 thousand crore rupees by 2030.
Mr Goyal said that India’s farmers will gain wider market access for fruits, vegetables, spices and other agricultural produce. He said, the agreement will help improve productivity, support higher incomes and strengthen livelihoods. The Minister highlighted that sensitive sectors, including dairy, remain protected, keeping farmers’ welfare at the heart of the government’s approach.
The Minister said that New Zealand’s commitment to facilitate 20 billion US dollars in investment into India holds immense potential to strengthen manufacturing, infrastructure, services and innovation. Mr Goyal said, this agreement will also create employment opportunities. He expressed confidence that this win-win partnership will achieve many more milestones, guided by the shared vision of growth and mutual prosperity between the two nations.