What will be the benefit of FTA between India and New Zealand, on which goods will there be 0 percent duty, in which sector will jobs be created?:

News Topical, Digital Desk : With the signing of a Free Trade Agreement (India-New Zealand FTA) between India and New Zealand, experts believe the FTA will help diversify exports and attract investment in sectors like agriculture. Negotiations for the agreement were announced on December 22nd. The agreement is expected to be signed and implemented next year.

India and New Zealand on Monday said they have concluded negotiations on a free trade agreement that will give India duty-free access to the island nation's markets, attract $20 billion in investment over the next 15 years and help double bilateral trade in goods and services to $5 billion in the next five years.

Zero duty facility on 100% exports

S.C. Ralhan, president of the Federation of Indian Export Organizations (FIEO), said the free trade agreement (FTA), once implemented, will provide zero duty coverage on 100 percent of India's exports. It will eliminate duties on all types of products. "This will increase the competitiveness of Indian products in the New Zealand market and provide a significant boost to employment-generating sectors," he said.

Committed investment of $20 billion

Deep Kapuria, international trade expert and chairman of Hi-Tech Gears, said that New Zealand's commitment to invest $20 billion, especially in dairy, agriculture, and infrastructure, will significantly boost the productivity of India's agricultural sector. He said, “New Zealand's expertise in high-value agricultural products like kiwi, apples, and milk, and their commitment to cooperate under a free trade agreement (FTA), will bring a positive change to Indian agriculture. New Zealand is also a huge potential market for services exports for India. This agreement will further boost India's already thriving services exports.”

GTRI founder Ajay Srivastava said that New Zealand could increase its milk and product exports to India even under the current MFN tariff, while India could increase its pharmaceutical, textile, and IT services exports to New Zealand. New Zealand could also diversify by expanding education, tourism, and aviation training services for Indian students and professionals.