NZ Parliament Passes India FTA: Turning Agreement into Business Opportunity
The NZ Parliament passed the legislation for the NZ–India FTA
INZBC welcomes this important milestone, but for New Zealand businesses the real work starts when the agreement enters into force.
From day one, 57% of New Zealand’s current exports to India will become duty free. Once fully implemented, tariffs will be eliminated or significantly reduced on 95% of our exports. The Government estimates the kiwifruit sector alone could save around NZ$125 million in tariffs over five years.
But the opportunity is wider than tariffs. Faster border clearance, services access and stronger commercial engagement give New Zealand businesses a better platform in one of the world’s largest and fastest growing economies.
The challenge now is implementation.
An FTA creates access, but it does not create customers. Exporters still need the right market strategy, distribution partners, relationships and understanding of how business is done in India.
For INZBC, this is where our focus now shifts. After 38 years of advocating for stronger commercial ties between India and New Zealand, our priority is helping businesses turn the agreement into trade, investment and long - term partnerships.
The target is NZ$7 billion in two-way trade by 2030. Today takes us another important step closer.
We look forward to hosting Minister Todd McClay and High Commission of India,Wellington, New Zealand H.E. Ms. Muanpuii Saiawi at the SOLD OUT event next week.
