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India-New Zealand FTA to Triple Apparel Exports, Say Industry Leaders

The India-New Zealand Free Trade Agreement is expected to boost apparel exports by 3-4 times within two years. Engineering exports are also projected to double under the pact. Industry leaders called it a significant opportunity for Indian businesses to access the New Zealand market. The deal, signed by Piyush Goyal and Todd McKlay, is one of India's fastest concluded bilateral trade agreements.

Key Points: India-New Zealand FTA: Apparel Exports to Rise 3-4 Times

  • Apparel exports expected to rise 3-4 times in 2 years
  • Engineering exports likely to double
  • FTA signed between Piyush Goyal and Todd McKlay
  • Described as one of India's fastest concluded trade deals
2 min read

'Apparel exports will rise 3-4 times': Industry sees sharp gains from India-New Zealand FTA

Industry leaders say the India-New Zealand FTA will boost apparel exports 3-4 times in 2 years, with significant gains for engineering and other sectors.

"After FTA, our exports will increase by 3 or 4 times in 2 years... It is very important for the apparel industry - Dr A. Sakthivel"

New Delhi, April 27

Industry leaders on Monday said the India-New Zealand Free Trade Agreement will open up significant market access and boost exports across key sectors, calling it a major opportunity for Indian businesses.

Sunil Kaushal, Chief Executive of India India-New Zealand Business Council, said the agreement would strengthen economic engagement between the two countries. "It is a great opportunity for both New Zealand and India... It will provide market access to Indian companies in New Zealand... A lot of opportunities are going to come out of this FTA," he said.

Export-oriented sectors, particularly apparel, are expected to see strong gains following the agreement. Dr A. Sakthivel, Chairman of the Apparel Export Promotion Council, said the FTA would significantly boost shipments. "The FTA with New Zealand is going to be very good for the apparel sector... After FTA, our exports will increase by 3 or 4 times in 2 years... It is very important for the apparel industry... It is a good opportunity," he said.

Engineering exports are also likely to benefit from improved trade access under the pact. Pankaj Chadha, Chairman of EEPC India, said the agreement would help expand India's export footprint. "This will help in increasing our export... It will at least be doubled... Overall, for engineering, it is a good agreement," he said.

Industry stakeholders said the agreement is expected to create new opportunities for exporters by improving access to the New Zealand market, while also supporting growth across key manufacturing sectors.

India and New Zealand signed the Free Trade Agreement (FTA) on Monday, marking a significant step in strengthening bilateral economic ties, with the pact expected to bring deep tariff cuts, expanded market access and enhanced services cooperation.

The deal signed between India's Commerce and Industry minister Piyush Goyal and New Zealand's Minister for Trade and Investment Todd McKlay is being described as one of India's fastest concluded bilateral trade deals.

- ANI

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Reader Comments

S
Sarah B
From a consumer perspective, will we see cheaper New Zealand products in Indian stores? Like apples, wine, or manuka honey? Could be a win-win if we balance it right.
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Aman W
Industries always get excited about FTAs, but we need to see actual implementation. Bureaucratic hurdles at ports and logistics bottlenecks can kill all these benefits. Hope the government walks the talk on ease of doing business.
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Michael C
As someone who worked in apparel exports, this is promising. Our garment quality has improved dramatically. But NZ is a small market (5 million people) - 3-4x growth sounds ambitious unless we're also using it as a gateway to Australia.
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Priya S
Modi ji and Piyush Goyal ji are working hard on trade deals - this is the fastest one yet! 🇮🇳 Shipment double! But I worry about our MSME sector competing with larger exporters once tariffs drop. Need training and support for small units.

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