The free trade agreement between India and New Zealand starts on October 20. TPCI said this deal will boost exports of Indian farm products and processed foods. TPCI Chairman Mohit Singla said, "Indian exporters gain an unparalleled competitive edge in Oceania." The council will help businesses use these new tariff concessions.
Starting on October 20, the free trade agreement between India and New Zealand is set to boost bilateral commerce. This agreement will significantly lower tariffs on various Indian agricultural exports, such as processed foods and spices.
NEW DELHI: The free trade agreement between India and New Zealand, which will come into force from October 20, will give a major boost to domestic farm products and processed food sectors, trade promotion body TPCI said on Wednesday.
The
Trade Promotion Council of India (TPCI) said that under the pact, tariffs on processed foods, spices, seasonings, confectionery, bakery goods, packaged cereals, sauces, fruit juices, and processed vegetables will drop from up to 5 percent to zero on Day One of the implementation of the agreement.
"By securing immediate 100 per cent zero-duty access across all product lines, Indian exporters, "particularly in food processing, textiles, and light engineering, "gain an unparalleled competitive edge in Oceania," TPCI Chairman Mohit Singla said.
He said the council will assist MSMEs and agri-food businesses to leverage these tariff concessions, meet technical standards, and build long-term buyer relationships in New Zealand.
Duty-free access opens significant room for Indian value-added agri-products to integrate into Indo-Pacific supply chains, he said.
To maximise trade gains, TPCI will conduct specialised exporter awareness sessions, and targeted buyer-seller meets focused on
agri-food processing and MSME manufacturing clusters.