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Tiruppur Exporters Hail Landmark India-New Zealand FTA for Textile Boom

The Tiruppur Exporters Association has welcomed the India-New Zealand Free Trade Agreement, predicting a major boost for the textile industry. Knitwear exports to New Zealand are projected to double from 1.2 billion USD within two years. The deal is also expected to attract 20 billion USD in foreign investment and create numerous jobs, especially in Tiruppur. The FTA is one of India's fastest concluded bilateral trade deals, signed by Commerce Minister Piyush Goyal.

Key Points: India-New Zealand FTA: Tiruppur Exporters See Textile Boom

  • FTA signed with New Zealand, boosting textile exports
  • Knitwear exports expected to double to 2.4 billion USD
  • Deal to attract 20 billion USD in foreign investment
  • Tiruppur, accounting for 68% of India's knitwear, to benefit greatly
2 min read

Tamil Nadu: Tiruppur Exporters Association welcomes India-New Zealand FTA

Tiruppur Exporters Association welcomes the India-New Zealand FTA, expecting knitwear exports to double and attract $20 billion in investment.

"Exporters say they are thrilled with this historic deal. - Tiruppur Exporters Association"

Tiruppur, April 28

In a major boost to India's textile industry, the Tiruppur Exporters Association has warmly welcomed the historic Free Trade Agreement signed between India and New Zealand. This landmark deal is expected to significantly enhance bilateral trade and open new avenues for investment and employment.

Following successful FTAs with the UK and the European Union, India has now solidified its economic ties with New Zealand. This agreement, signed by the Union Commerce Minister and the New Zealand delegation, marks a pivotal moment for Indian knitwear exporters, particularly those in the apparel and knitwear sectors.India's apparel and knitwear exports to New Zealand, currently valued at 1.2 billion USD, are projected to double within the next two years.

The deal is anticipated to attract significant foreign investment from New Zealand, with estimates reaching 20 billion USD in the near future. This economic expansion is set to create numerous job opportunities across India, with Tiruppur expected to be one of the primary beneficiaries.

Exporters say they are thrilled with this historic deal. Tiruppur, which accounts for 68 per cent of India's knitwear exports, stands to benefit immensely. This FTA, along with those already signed with countries like the UK, USA, Oman, and Australia, now totalling nearly 70 per cent of global markets, will drive a massive increase in exports and foreign exchange for India."To meet the anticipated demand, the industry is calling for enhanced capacity building. This includes modernisation for the construction of state-of-the-art, high-capacity factories, worker welfare for improved accommodation and staff quarters for the labour force.

The government's ongoing initiatives, such as the PM MITRA Parks and the modified ATUFS scheme, are already in place to support these developments and further boost India's domestic and international apparel business.

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.

As global markets stabilise following recent geopolitical tensions, Indian exporters are reporting a steady influx of new inquiries and orders, signalling a bright future for the nation's textiles sector.

- ANI

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Reader Comments

S
Sarah B
As someone who follows global trade, this is a smart move for India. New Zealand is a quality-conscious market, and our knitwear can really shine there. But I hope we also focus on worker welfare and modern factory conditions—the article mentions it, and that's crucial for sustainable growth.
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Nisha Z
This is wonderful for Tiruppur! My family is from there, and I know how many livelihoods depend on the knitwear industry. 68% of India's knitwear exports coming from one city is incredible. The PM MITRA Parks and ATUFS schemes will really help upgrade infrastructure. Hoping to see more such FTAs with other countries!
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Arjun K
Good deal, but I hope the government ensures small exporters also benefit, not just the big players. Often in such FTAs, the smaller units struggle with compliance and competition. Need to focus on capacity building and training for our local artisans and workers. Otherwise, this could widen the gap.
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Riya H
This is so exciting! 🇮🇳 India is signing FTAs left and right—UK, EU, now New Zealand. Our textile industry is finally getting the global recognition it deserves. I just hope the worker accommodations and welfare improvements mentioned actually happen on ground. Our labour force deserves dignity and safety.
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James A
Impressive how fast this deal was concluded. The article says it's one of India's fastest bilateral trade deals—that shows strong diplomatic momentum. But I do have a concern: will this lead to any reciprocal tariff reduction on New Zealand dairy or wool that could impact Indian farmers? Hope the fine print is balanced.

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