India, New Zealand FTA to Boost Agra’s Footwear Exports: Goyal

He announced the launch of the new campaign through a social media post on platform X.

The initiative aims to position Agra as a global sourcing destination, employment engine and export powerhouse, particularly in leather and footwear, AYUSH, pharma, medical devices, light engineering and sports goods.

Speaking alongside New Zealand's Minister for Trade and Investment Todd McClay, Goyal said the agreement was finalised after years of discussions at the highest level, including between Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon. "On the bilateral trade agreement between India and New Zealand... after many years of discussions... it is going to be signed tomorrow," he said.

The India-New Zealand FTA is expected to significantly improve market access for Indian exporters. Goyal noted that approximately 70% of Indian goods will enter New Zealand duty-free, opening fresh opportunities for MSME-driven and traditional sectors. "We will get new opportunities for our Agra leather business and Uttar Pradesh handloom and handicrafts... for our one district one product... to our carpenters who make the goods, for the handcarvers and many more opportunities," the Union Minister said.

The minister highlighted that the trade pact would act as a catalyst for trade growth in the coming months. "In a few months, it will be a means of increasing trade between India and New Zealand," he added. The agreement is set to benefit farmers, women, artisans, MSMEs, businesses and skilled professionals across both countries.

McClay reaffirmed New Zealand's commitment to strengthening economic ties with India. Describing the relationship as "the strongest that I have ever known," he said, "We, as a government of New Zealand, have said that we want to make our relationship with India and its government a strategic priority." He urged businesses to actively pursue joint ventures and investments in India and expressed optimism about increased connectivity, including the prospect of direct flights between the two countries.

The minister emphasised that the FTA aligns with Prime Minister Modi's vision of a people-centred partnership. "In line with PM Narendra Modi ji's vision, this Agreement is a gateway to a deeper, more enduring and people-centred partnership between our two nations," Goyal posted on X following the engagement.

The proposed agreement is expected to deepen economic engagement and expand export avenues, particularly for traditional and MSME-led industries. With bilateral trade poised to grow, both sides see the pact as a milestone in transforming a shared historical relationship into a robust economic partnership.

- ANI