India-New Zealand FTA Comes Into Effect, Says PM Christopher Luxon: 'Big Day For Kiwi Exporters', Reduced Tariffs
“As of today, our historic Free Trade Agreement with India is in effect," PM Christopher Luxon posted on X.
Luxon said the deal, reached after working closely with Prime Minister Narendra Modi, will help grow both economies and boost Kiwi communities.
Quick answers to key questions
.5 QUESTIONS1When did the India-New Zealand Free Trade Agreement come into effect?⌵The agreement came into force on October 20. New Zealand Prime Minister Christopher Luxon announced that it was in effect.
2What tariff benefits does the India-New Zealand FTA offer exporters?⌵New Zealand provides duty-free access for all Indian exports. New Zealand goods also receive tariff elimination or reductions on roughly 95% of bilateral trade with India.
3Which Indian exports could benefit from the FTA?⌵Textiles, clothing, leather, footwear, pharmaceuticals, engineering goods, agricultural products and marine products are among the sectors expected to gain improved access to New Zealand.
4How does the India-New Zealand FTA benefit Kiwi exporters?⌵The agreement gives New Zealand businesses access to the Indian market with significantly reduced tariffs. Luxon said this could make it easier for them to sell more, expand and hire staff.
5Are sensitive sectors protected under the India-New Zealand FTA?⌵Yes. India has retained protections for sensitive sectors, including dairy and certain agricultural products.
“From today, Kiwi businesses can reach over a billion more customers with significantly reduced tariffs,” the New Zealand Prime Minister said.
“That means it's easier for Kiwi businesses to sell more, hire more staff, invest in machinery and expand, creating more jobs and higher wages for Kiwis,” he added.
“That's more money flowing into Kiwi communities. That's why National has been hustling on the world stage, getting trade deals done,” Luxon said.
In another post on X, Luxon hailed it as a“big day for Kiwi exporters" and said that“our Free Trade Agreement with India is now in force.”
“That means goods leaving here at the Ports of Auckland can reach one of the world's fastest-growing economies with lower tariffs. More orders, more money flowing back into Kiwi communities, more jobs and higher wages for Kiwis,” Luxon' post read.
His post mentioned Todd McClay and National, who he said,“have done the hard yards to get this deal over the line. It's exactly why we've been hustling on the world stage, getting trade deals done.”
“Let's stick with the plan that's working. Party Vote National,” he added.
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