The Federation of Indian Export Organisations (FIEO) expressed satisfaction with the signing of the India-New Zealand Free Trade Agreement, hailing it as a crucial step that will enhance market access and strengthen economic relations. FIEO President, S C Ralhan, highlighted the potential benefits for exporters, particularly micro, small, and medium enterprises, across various sectors like agriculture, textiles, pharmaceuticals, and IT services.
This agreement is expected to create new trade opportunities for Indian exporters, especially in areas such as processed food, organic products, and professional services. The Mutual Recognition Arrangement for Organic Certification and access for AYUSH products mark significant advancements under this pact. Furthermore, the services sector stands to gain from improved mobility provisions and recognition of professional qualifications.
With reduced trade barriers and simplified procedures, Indian businesses are poised to enhance their competitiveness in the New Zealand market. This deal aims to diversify India’s export destinations and reduce reliance on traditional markets, urging exporters to align their products and strategies to maximize the benefits of this agreement.
Mohit Singla, Chairman of TPCI, noted that the FTA could boost market access for Indian agri-food products by lowering tariffs and addressing non-tariff barriers. He emphasized the potential synergy between New Zealand’s expertise in food safety and India’s capabilities, enabling Indian exporters to integrate into global value chains effectively. Both countries are set to benefit from preferential duties on specific products, fostering mutual trade growth.
