India NZ finalise trade deal that takes effect from October:Prices of which kiwi products will reduce in India?

New Zealand Prime Minister Christopher Luxon on Monday said the India-New Zealand Free Trade Agreement (FTA) has been finalised and is set to come into force this October, following parliamentary approval of the pact earlier this month. The agreement was cleared by New Zealand’s Parliament on September 16, with lawmakers voting 93-29 in favour of the legislation, bringing the bilateral trade pact closer to implementation. How trade deal will benefit Kiwis? People told me a Free Trade Agreement with India wasn’t possible. Well, today that deal passed its final vote in Parliament. It’s happening. National said we said we’d secure a Free Trade Agreement with India in our first term, and we’ve delivered. This landmark deal means more jobs, higher incomes for Kiwis. It means more New Zealand products being sold in India by opening the door to 1.4 billion Indian consumers. It’s one of the ways we will grow the economy to help you get ahead – fixing the basics and building the future. -NZ PM Luxon New Zealanders may get to buy Indian goods at relatively cheaper price than now The FTA was signed by India and New Zealand on April 27. Under the agreement, New Zealand will provide duty-free access for 100 per cent of Indian exports to its market, covering all tariff lines. How India benefits from trade deal? The pact is also aimed at improving competitiveness and employment opportunities in India’s labour-intensive sectors, including textiles and apparel, leather and footwear, gems and jewellery, engineering goods and processed foods. NZ will invest ₹1.9 lakh crore in India The agreement provides for a $20 billion investment commitment by New Zealand in India over 15 years, aimed at strengthening long-term economic cooperation between the two countries. Kiwi products that won’t become cheaper in India: For New Zealand exports to India, 70.03% of tariff lines have been offered market access, covering 95 per cent of bilateral trade. India has excluded 29.97% of tariff lines, including sensitive products such as dairy, several agricultural products, sugar and certain metals and other goods. Made in NZ items that get cheaper in India immediately upon FTA implementation: The agreement provides for immediate elimination of duties on 30% of tariff lines covering products such as wood, wool, sheep meat and raw hides. A further 35.60 per cent of tariffs will be eliminated gradually over three, five, seven or 10 years.
Kiwi wine will get cheaper but gradually Some products, including wine, pharmaceutical drugs, polymers and certain aluminium, iron and steel products, will receive tariff reductions, while a small number of products will be covered by tariff-rate quotas, including Mānuka honey, apples, kiwifruit and albumins. What do Indian students get? The agreement also creates new mobility opportunities for Indian students and professionals. It includes a Temporary Employment Entry visa pathway with a quota of 5,000 skilled Indians for stays of up to three years, covering occupations including AYUSH practitioners, yoga instructors, Indian chefs and music teachers, as well as professionals in IT, engineering, healthcare, education and construction. Working Holiday Visa for Indian students: A Working Holiday Visa arrangement will allow 1,000 young Indians each year to travel to New Zealand for up to 12 months. The agreement also includes an annex on student mobility and post-study work provisions, under which eligible Indian students can work up to 20 hours a week while studying and receive extended post-study work visas depending on their qualification.