India's $20 Billion FTA with NZ: Zero Duty Exports and 5,000 Work Visas
The India-New Zealand free trade agreement (FTA) will come into effect on October 20, 2026. One of the key benefits for India is that all its exports to New Zealand will be duty-free from day one. This means that Indian businesses can export goods without paying any customs duties, making them more competitive in the market.
Another significant aspect of this FTA is the increase in work visas for Indians. The agreement provides for 5,000 work visas at any given time, opening up new pathways for Indian students and professionals to work in New Zealand. This will also grant these individuals work rights and allow them to stay back in the country after completing their studies.
However, it's worth noting that India has kept dairy products out of the deal, including milk, butter, ghee, and cheese. The reasons behind this exclusion are not explicitly stated in the article, but it may be due to concerns about New Zealand's strong dairy industry or other trade-related considerations.
New Zealand, on the other hand, will benefit from increased imports of timber, wool, wine, apples, kiwis, and honey from India. The agreement aims to boost bilateral trade between the two countries, with a target investment of $20 billion.