Business Canterbury welcomes the announcement that New Zealand has secured a comprehensive free trade agreement (FTA) with India – the world’s most populous country and one of its fastest-growing economies.
Business Canterbury Chief Executive, Leeann Watson says, “An India free trade agreement has long been considered the elusive but obvious next step for New Zealand on the global stage. We congratulate the officials who turned what many thought was an impossible deal into a reality – one that could be in effect and benefiting exporters as early as next year."
"This deal positions our exporters competitively alongside those from other countries and includes mechanisms for regular updates – both after the first year and as other countries adjust their own agreements. It’s a starting point that opens the door to a deeper economic relationship.
“Under the agreement, tariffs and duties on 95% of goods exported to India will be eliminated over the next decade, creating substantial opportunities for New Zealand businesses to access one of the world’s largest and fastest growing consumer markets.
"With the EU and UK free trade agreements also now in place, New Zealand exporters have unprecedented access to major global markets. This will allow businesses to grow, diversify, and find high-value niches that strengthen our economy.
"This is absolutely a win for New Zealand – and we look forward to seeing it come into force and evolve to deliver even greater benefits in the years ahead."
"Business Canterbury is here to help businesses make the most of these opportunities. Our global trade advisory team can provide practical guidance on market entry, compliance, and strategy to ensure exporters are ready to take full advantage of this agreement. We encourage businesses to reach out and start planning now.”
Looking to understand what the FTA could mean for your business?
Read our Global Trade Advisor’s blog for practical insights and next steps, or get in touch with our team to start planning now.
