India-New Zealand FTA ratified, to come into effect on October 20
India and New Zealand have ratified their Free Trade Agreement, which will come into effect on October 20. Under the deal, New Zealand will remove all tariffs on all goods imported from India, while India will remove or reduce tariffs on 95% of current imports from New Zealand. The Commerce Minister said India's dairy and sensitive agriculture sectors have been protected, with the pact aiming to double bilateral trade.
Nabka Insight
India-New Zealand FTA terms and effective date are highly examinable.
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- The India-New Zealand FTA comes into force on October 20.
- New Zealand removes all tariffs on all Indian goods; India removes or reduces tariffs on 95% of NZ imports.
- India's dairy and sensitive agriculture sectors are protected; the deal aims to double bilateral trade.
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