Not just business, victory of faith! India-NZ trade agreement will increase the country’s credibility at the global level

India-New Zealand Free Trade Agreement: Economist and former president of the Institute of Chartered Accountants of India (ICAI) Ved Jain said on Tuesday that the India-New Zealand Free Trade Agreement (FTA) will boost investor confidence as both the countries will get access to each other’s markets and will benefit in every field.

The agreement strengthens the economy by ensuring better market access for Indian goods, expanding opportunities in services and mobility, and deepening cooperation in agriculture, investment and new sectors.

Investor confidence will increase

Jain told IANS that naturally when two countries like India and New Zealand enter into a free trade agreement and provide each other more market access. Also, when the leadership of both the countries is committed to economic development, the confidence of investors increases. He feels positive about the Indian economy as well as the New Zealand economy.

The FTA will eliminate 100 percent duty on Indian exports, and New Zealand has also promised to invest $20 billion over 15 years to strengthen long-term economic and strategic cooperation.

Indian exporters will get market

Apart from this, Nikhil Madrasi, President of South Gujarat Chamber of Commerce, Surat, said that when a free trade agreement is signed, new markets open up and exporters benefit a lot. He further said that through India-New Zealand FTA, India will get tariff-free access to the New Zealand market, which will greatly help Indian exporters.

Industrialist and former president of South Gujarat Chamber of Commerce Surat Vijay Mewala said that India is one of the fastest growing economies in the world and this is a big opportunity for the country to emerge as a global trade leader. He said, ‘When neighboring countries are facing conflicts, India has a good opportunity to strengthen its position in global trade.

Bilateral trade will double in 5 years

Former Chief Income Tax Commissioner Dr Shikha Darbari told IANS that the $20 billion long-term trade agreement between India and New Zealand aims to double bilateral trade in the next 5 years. This is a sign of Prime Minister Narendra Modi’s global economic outlook and growing investor confidence.

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India will become leader in global trade

He said that till now India fta agreements It was cautious about trade, but now it is making balanced and secure trade agreements with developed countries. This makes clear the changed trade diplomacy of the Government of India, in which the interests of investors are being given priority. Its objective is to make India a leader in global trade, and for this strategic agreements are being given priority.