India-New Zealand FTA To Boost Textile Exports, Help Reach $350B Goal

(MENAFN- AsiaNet News)

The Free Trade Agreement (FTA) between India and New Zealand is expected to provide a boost to India's textile exports and support the sector's aspiration of reaching USD 350 billion by 2030, the Confederation of Indian Textile Industry (CITI) said.

According to Confederation of Indian Textile Industry, the FTA will strengthen efforts by textile and apparel exporters to reduce dependence on select markets and move up the value chain. The industry body said the agreement will provide duty-free access to Indian textiles in the New Zealand market.

Chairman's Perspective on the FTA

CITI said "made-up textile articles" were the fourth-largest category of Indian imports into New Zealand in the year ended December 2025, citing data from New Zealand's Ministry of Foreign Affairs and Trade. It added that New Zealand's imports of Indian made-up textile articles stood at NZ$80.22 million during the period.

CITI Chairman Ashwin Chandran said, "Amid the ongoing geopolitical tension in West Asia, the signing of the FTA between India and New Zealand comes as a breath of fresh air for India's textile and apparel exporters."

Chandran added that New Zealand, being a high-income and quality-conscious market, can serve as a validation for Indian textile products in terms of quality and pricing. He noted that this could support exporters in scaling up the value chain and creating more jobs by leveraging multiple FTAs signed by India.

Growth Opportunities and Raw Material Synergy

CITI said segments such as sustainable textiles, home textiles and technical textiles offer strong growth potential in the New Zealand market. The industry body added that New Zealand's position as a major exporter of high-quality wool could help Indian companies import premium raw material and manufacture high-end garments for export.

India's Broader Textile Ambitions

India's textile and apparel sector is the country's second-largest employer and a key contributor to GDP and exports, with a target of reaching USD 100 billion in exports by 2030 as part of the broader USD 350 billion industry goal, CITI said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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