CII urged exporters and MSMEs to tap opportunities under the India-New Zealand free trade agreement implemented on October 20. Sanjay Budhia said, "I urge exporters, especially MSMEs, to move early, engage with New Zealand buyers." This pact gives Indian exporters duty-free access, helping many industries like textiles and leather grow.
Domestic exporters, including MSMEs, should engage with New Zealand buyers, check product-specific rules of origin and leverage schemes such as the Export Promotion Mission to maximise the benefits from the recently implemented bilateral free trade agreement, CII's Sanjay Budhia said on Thursday.
Budhia, the Chairman of the CII National Committee on Exports and Managing Director of Patton International Ltd, said New Zealand can also serve as a gateway to the wider Oceania and Pacific Island markets.
On October 20, the two countries implemented a free trade agreement to boost trade and investment ties.
"I urge exporters, especially MSMEs, to move early, engage with New Zealand buyers, check product-specific rules of origin, and make full use of schemes such as the Export Promotion Mission. New Zealand can also serve as a gateway to the wider Oceania and Pacific Island markets," he said.
The pact, Budhia said, gives Indian exporters duty-free access across all tariff lines in New Zealand, with tariffs of up to 10 per cent on engineering goods, textiles, leather and footwear now at zero.
The agreement is set to benefit a wide range of industries -- including engineering goods, chemicals, plastics, electronics, pharmaceuticals, and processed foods -- alongside labour-intensive sectors like textiles and leather.
He added that streamlined SPS and TBT (Sanitary and Phytosanitary Measures and Technical Barriers to Trade) procedures, electronic certification, and acceptance of GMP (Good Manufacturing Practices) and GCP (Good Clinical Practice) inspection reports will also help reduce compliance costs.