The agreement is expected to benefit Indian farmers, MSMEs, artisans, youth and women-led enterprises.
Under the pact, 100% of India’s exports will enjoy zero-duty access to the New Zealand market, with tariffs eliminated across 8,284 lines, strengthening India’s trade competitiveness and export potential.
ET takes a look at the gains for both sides:
7th FTA since 2021
India’s gains:
- New Zealand to invest $20 billion over 15 years
- Manufacturing, services, job creation focus
Boost for farmers
- Access to advanced agri-tech
- Higher productivity, quality
- Agriculture & food processing: Zero-duty access across 1,379 tariff lines
- Higher exports
- Improved farm incomes
- Targeted action plan for kiwifruit, apples & honey
- Cooperation on food safety standards & supply chains
Key beneficiary sectors
Zero-duty access for India’s labour-intensive sectors, including:
- Textiles
- Leather
- Gems & jewellery
- Engineering goods
- Processed foods
Global mobility expansion
New annexes on mobility provisions
Better job opportunities for Indian students
Pathways for working holiday visas, post-study work visas
Smooth temporary employment visas for skilled Indian professionals
Pharma and Medical devices
Fast-track approvals
Recognition of US, EU, UK & Canadian inspections
Zero-duty access, strengthening India’s role as a supplier of affordable medicines
AYUSH, Wellness
Cooperation in AYUSH systems
Support for research & capacity building
Services sector
MFN status boosts IT, fintech
Growth in IT-ITeS, finance, education
Deeper value-chain integration
Trade winds
Side letters
- Wine, GI working groups
- Comparable regulators under Annex on pharma, medical
- Consultations related to dairy sector in review of FTA
- MRA in organics
