India’s textile and engineering goods will get duty-free benefits under India-New Zealand FTA, demand of dairy sector rejected

However, India has not given any relaxation in the dairy sector, which was a major demand of New Zealand.

India-New Zealand FTA Trade: India and New Zealand on Monday announced the completion of negotiations on a free trade agreement (FTA). Under this agreement, textiles, shoes, engineering products and many other household goods will receive duty-free access into New Zealand. However, India has not given any relaxation in the dairy sector, which was a major demand of New Zealand. It is expected that this agreement will be signed within the next three months and will come into force next year.

“Under the FTA, New Zealand has committed to facilitate investment of $20 billion in India over the next 15 years. “Elimination of duties on all duty categories will provide duty-free market access to India’s entire exports,” the Commerce Ministry said.

The ministry said this duty-free market access will enhance the competitiveness of India’s labour-intensive sectors such as textiles, apparel, leather, footwear, marine products, gems and jewellery, handicrafts, engineering products and motor vehicles. Along with this, the ministry said that India has also secured extensive commitments in high-value sectors including IT and related services, professional services, education, financial services, tourism, manufacturing and other business services. This will open up substantial new opportunities for Indian service providers and high-skilled employment. The FTA also provides better provisions for entry and residence for Indian professionals, students and youth.

New employment opportunities for professionals through Temporary Employment Entry Visa

The FTA between India and New Zealand covers work opportunities during studies, employment pathways after studies, visa system and ‘working holiday’ visa structure. This agreement has opened new avenues of skilled employment for skilled professionals through Temporary Employment Entry Visa.

“This includes professionals such as AYUSH doctors, yoga instructors, Indian chefs and music teachers as well as high-demand sectors such as IT, engineering, healthcare, education and production, which will enhance workforce mobility and strengthen services trade,” the ministry said.

Indian farmers will get full support

The agreement includes the establishment of a special Agricultural Technology Action Plan for kiwi fruit, apple and honey, aimed at increasing productivity, strengthening technology and research collaboration, improving quality and developing value chains. Indian farmers will also be supported by strengthening domestic agricultural capabilities.

Under this collaboration, Centers of Excellence will be set up, improved planting material will be made available, and capacity building will be done for growers. In addition, technology support for orchard management, post-harvest processes, supply chain improvement and food security will also be provided.

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