New Delhi, April 27 (SocialNews.XYZ) The Federation of Indian Export Organisations (FIEO) on Monday welcomed the signing of the India–New Zealand Free Trade Agreement, calling it a strategic milestone that will expand market access, deepen economic ties and create opportunities for exporters, especially micro, small and medium enterprises.
FIEO President, S C Ralhan said that the FTA will open new bilateral trade avenues for Indian exporters across agriculture, textiles, pharmaceuticals, engineering goods, and services such as IT & ITES, business services, engineering, education, construction and health services.
It presents immense opportunities for our exporters, particularly MSMEs, to tap into a high-value market with growing demand for quality goods and services, he said.
Sectors such as processed food, dairy alternatives, organic products could witness significant growth under the FTA framework. A Mutual Recognition Arrangement (MRA) for Organic Certification will facilitate market entry, while AYUSH products will get access for the first time.
Additionally, the services sector is likely to benefit from enhanced mobility provisions and mutual recognition of professional qualifications.
With reduced tariff barriers and streamlined trade procedures, Indian businesses will gain with improved competitiveness in the New Zealand market, Ralhan added.
It will diversify India’s export destinations and reduce overdependence on traditional markets. Exporters must proactively align their product standards and marketing strategies to leverage the full potential of this agreement, he added.
Mohit Singla, Chairman of TPCI, said that the agreement is likely to significantly enhance market access for Indian agri-food products, including processed foods, beverages, spices, and marine products, by reducing tariffs and facilitating overcoming of non-tariff barriers.
Singla emphasised that New Zealand’s expertise in food safety, traceability, and sustainable practices can complement India’s growing capabilities, enabling our exporters to integrate effectively into global value chains.
New Zealand exporters would benefit from concessional duty by India for products like sheep meat, certain fruits, manuka honey and premium beverages. Concessions on products like kiwi fruits, apples, manuka honey and albumines are for a predetermined quantity (TRQ).
—IANS
aar/pk
Source: IANS
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