Union Minister Piyush Goyal painted an optimistic picture Sunday for India’s trade future with New Zealand, calling their upcoming Free Trade Agreement a game-changer that will empower farmers, women, artists, small businesses, and skilled professionals with unprecedented market access.
The announcement comes ahead of Monday’s formal signing, following intensive negotiations that prioritize India’s interests.
At an exporter conclave in Agra alongside New Zealand Trade Minister Todd McClay, Goyal highlighted how the pact embodies PM Modi’s blueprint for inclusive growth through robust bilateral ties.
Key wins include complete tariff elimination on Indian goods entering New Zealand and steep cuts on 95% of New Zealand imports to India. This unlocks duty-free entry for 450 product lines like garments, leather products, pottery, rugs, vehicles, and parts—previously hit with 10% duties.
India deftly excluded dairy staples and vital farm produce, safeguarding domestic livelihoods.
A landmark $20 billion investment pledge from New Zealand over 15 years bolsters the deal’s appeal, akin to EFTA’s $100 billion commitment.
Mobility provisions shine brightest: New Zealand’s first-ever post-study work visas for Indians, plus 5,000 three-year visas for experts in yoga, AYUSH, culinary arts, music, tech, engineering, health, teaching, and building sectors.
The Working Holiday scheme offers 1,000 Indian youths yearly multiple 12-month entries to New Zealand.
McClay stressed India’s strategic importance, calling for expanded joint ventures.
Exporters from pharma, medical tech, engineering, leather, shoes, and sports gear voiced strong support, eyeing exponential growth.
As global trade reshapes, this FTA cements India-New Zealand bonds, driving prosperity across sectors and skill levels.
