India-New Zealand FTA Likely to Take Effect on October 19
The India-New Zealand free trade agreement (FTA) is expected to become effective from October 19, according to an official.
India and New Zealand signed the trade pact on April 27 with the aim of expanding bilateral trade in goods and services while encouraging greater investment between the two countries.
Under the agreement, all Indian exports to New Zealand will receive duty-free access.
At present, New Zealand imposes peak tariffs of up to 10 per cent on several important Indian products, including ceramics, carpets, automobiles and auto components.
As part of the agreement, New Zealand has also pledged to invest USD 20 billion in India over a period of 15 years. ALSO READ: DRI Seizes 362 MT Pakistan-Origin Dry Dates Routed Via UAE
