India and New Zealand are set to sign a free trade agreement on April 27 (Monday), marking a major step in bilateral economic ties.
The agreement was announced on December 22 last year. Under the pact, New Zealand will bring import duties on all categories of Indian goods down to zero.
On the Indian side, tariffs on about 95% of goods imported from New Zealand—including timber, wine, avocados and blueberries—will be reduced or eliminated. However, dairy and dairy products will not receive tariff concessions.
The agreement also provides for 5,000 New Zealand visas annually for Indian students. India is expected to receive foreign investment worth Rs 1.86 lakh crore over the next 15 years.
New Zealand Prime Minister Christopher Luxon said the deal would open access for the country’s exporters to a market of 1.4 billion consumers, while Trade Minister Todd McClay said he would travel to India with exporters and that the pact would expand opportunities for products such as kiwifruit, seafood, meat and honey.
