India and New Zealand conclude free trade agreement
Summary
India and New Zealand have reached a free trade agreement aimed at increasing trade between the two countries by hundreds of millions of dollars. The agreement allows India to export goods to New Zealand without tariffs, while New Zealand will get tax reductions on many of its exports to India. The deal is set to be signed early next year.Key Facts
- India and New Zealand announced a free trade agreement.
- The agreement is expected to be signed in the first quarter of the next year.
- India will export goods to New Zealand without tariffs.
- New Zealand will receive tax concessions on about 70% of Indian tariff lines.
- New Zealand aims to expand exports of dairy, fruit, wool, and wine to India.
- India is expected to export textiles, engineering goods, leather, and marine products to New Zealand.
- New Zealand plans to invest $20 billion in India over 15 years.
- Skilled Indian professionals may get easier access to jobs in New Zealand.
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