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India’s agricultural and food product exports are set to gain stronger market access
Prime Minister Narendra Modi hailed the India-New Zealand Free Trade Agreement (FTA) as a landmark moment in the partnership between the two countries.
He said that the agreement will add unprecedented momentum to the developmental partnership and reflects the deep trust, shared values and ambition that bind the two nations.
The Prime Minister noted that the FTA will greatly benefit farmers, youth, women, MSMEs, artisans, startups, students and innovators. He added that it will open new avenues for growth, create opportunities and deepen synergy across sectors.
Modi further highlighted that the investment commitment of $20 billion by New Zealand will strengthen cooperation in agriculture, manufacturing, innovation and technology, paving the way for a more prosperous and dynamic future for both countries.
Modi shared an article written by Union Minister, Piyush Goyal. The article elaborates that the India–New Zealand Free Trade Agreement removes tariffs on Indian exports, boosting labour-intensive sectors and strengthening MSMEs, while ensuring that sectors such as agriculture and dairy remain fully protected.
India’s agricultural and food product exports are set to gain stronger market access, with categories such as honey, spices, cereals, fruits, coffee, and cocoa expected to benefit. The removal of tariffs is likely to enhance competitiveness and create new growth avenues for farmers as well as food processors.