The Confederation of Indian Industry (CII) has urged Indian exporters, particularly micro, small and medium enterprises (MSMEs), to explore new business opportunities under the India-New Zealand Free Trade Agreement (FTA), which came into effect on October 20.
Sanjay Budhia, Chairman of the CII National Committee on Exports and Managing Director of Patton International Ltd, called on exporters to engage with New Zealand buyers, understand product-specific rules of origin and make effective use of government support schemes, including the Export Promotion Mission.
He said New Zealand could also serve as a gateway for Indian businesses seeking to expand into wider Oceania and Pacific Island markets.
Under the agreement, Indian exporters have been granted duty-free access across all tariff lines in New Zealand. Import duties of up to 10 per cent on products such as engineering goods, textiles, leather and footwear have been reduced to zero, providing Indian businesses with greater opportunities to compete in the New Zealand market.
The agreement is expected to benefit several sectors, including engineering goods, chemicals, plastics, electronics, pharmaceuticals and processed food, along with labour-intensive industries such as textiles and leather.
Budhia said simplified procedures for Sanitary and Phytosanitary Measures (SPS) and Technical Barriers to Trade (TBT), electronic certification, and acceptance of Good Manufacturing Practices (GMP) and Good Clinical Practice (GCP) inspection reports would help reduce compliance costs for exporters.
The CII has emphasised the importance of early engagement with overseas buyers and better utilisation of trade facilitation measures to maximise the benefits of the agreement.
-PTI
