India-New Zealand FTA ratified; comes into force October 20
India and New Zealand ratified their Free Trade Agreement, which will enter into force on October 20. Under the deal, New Zealand will remove tariffs on all goods imported from India, while India will remove or reduce tariffs on 95% of its current imports from New Zealand. The agreement aims to double bilateral trade, with India's dairy and sensitive agricultural sectors kept protected, the Commerce Minister said.
Nabka Insight
New bilateral FTA with specific tariff-liberalisation terms and an effective date — high-yield for trade/IR questions.
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- FTA enters into force on October 20.
- New Zealand removes tariffs on all goods imported from India.
- India removes/reduces tariffs on 95% of current imports from NZ.
- Aims to double bilateral trade; India's dairy and sensitive agri protected.
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