$20 Billion Investment Commitment by India & New Zealand, Signs Historic FTA agreement.
India and New Zealand signed a historic trade deal. It marks significantly how India's foreign policy is establishing its presence across the world. It deeply enhances the relationship of both countries in terms of economic and foreign policy effectiveness. FTA is an important deal for India and New Zealand as it gives assurance of 100% duty-free economic trade. This trade deal was initiated by Union Minister of Commerce and Industry Shri Piyush Goyal under the leadership of Hon’ble Prime Minister Narendra Modi.
Key areas of FTA agreement
$20 billion investment commitment from New Zealand for technology, manufacturing, startups and new trends in technology.
A 100 % duty-free trade deal from New Zealand shows trust and economic growth indications.
Across 118 sectors which enhance MSME sectors, exports and innovation.
It will enhance exports in pharma, agriculture and Ayush, which is now historic to have its global presence. It will help India be represented in Yoga, Ayurveda, and Indian goods.
Market enhancement towards Textiles, leather exports and processed food sectors.
Exclusive relaxations for students who study abroad and hold a visa for education purposes can work for 3 years after completion.
How India Benefits from this Once in a Generation Trade deal
Removal of Tariffs and smooth economic trade, which will enhance India's economic growth. It helps to boost India's overall economic growth and strong partnership with New Zealand. The Instant price reduction of Indian goods in New Zealand. Zero Duty benefits for both nations is the major positive change in this deal. India's strength and economic trade deal through partnerships can truly make phenomenal changes in the coming years.
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