The Confederation of Indian Industry (CII) highlighted New Zealand’s commitment to facilitate $20 billion in investments over 15 years, aiming to spur industrial infrastructure, manufacturing ecosystems, and innovation clusters in India. The India–New Zealand Free Trade Agreement (FTA) has been praised by CII for offering 100% duty-free access for Indian exports, paving the way for significant trade expansion opportunities. Chandrajit Banerjee, Director General of CII, emphasized that the FTA eliminates tariffs on crucial sectors like textiles, leather, ceramics, and auto components, opening doors for market diversification and sustained export growth.
The FTA is seen as a major advancement for Indian industries, boosting export competitiveness and productivity while reducing trade costs. It is expected to provide substantial support to Micro, Small, and Medium Enterprises (MSMEs) and reinforce India’s growth trajectory by fostering innovation, attracting investments, and strengthening global connections. Key sectors such as transport, automotive, pharmaceuticals, plastics, rubber, electrical equipment, and machinery are set to enhance their export capabilities and global market presence.
The agreement aims to double bilateral trade between India and New Zealand to $5 billion within the next five years, indicating a promising growth outlook and a revitalized economic relationship. Noteworthy is the agreement’s focus on linking trade with investment, offering potential for collaboration in high-growth sectors like advanced manufacturing, agritech, digital technologies, and pharmaceuticals. By combining India’s scale and digital expertise with New Zealand’s innovation, both countries can drive productivity, create competitive industries, and work towards sustainable and green manufacturing practices.
The CII looks forward to collaborating with stakeholders from both nations to fully leverage the agreement’s potential and strengthen the strategic partnership for the future.
