India, New Zealand sign free trade deal in New Delhi
Business
India and New Zealand just inked a major free trade deal in New Delhi, with Prime Minister Modi commenting on the agreement.
This free trade agreement is set to open up new opportunities in tech, agriculture, and manufacturing, making it easier for both countries to do business together.
Zero duty access and $20B investment
Indian exports now get zero-duty access to New Zealand, while India will cut tariffs on 70.03% of tariff lines, covering about 95% of Kiwi goods such as wood, wool, and farm products.
Plus, New Zealand has committed to facilitate a $20 billion investment in India over the next 15 years.
Sectors like pharmaceuticals, textiles, startups, and MSMEs are expected to see real benefits, though dairy is off the table for now.