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New Zealand Grants Full Tax Exemption for Indian Products on Vijaya Dasami!
N
News18•21-09-2026, 16:49
New Zealand Grants Full Tax Exemption for Indian Products on Vijaya Dasami!
- •The India-New Zealand Free Trade Agreement (FTA) will come into effect on Vijaya Dasami, October 20, 2026.
- •The agreement aims to boost bilateral trade from $2.4 billion to $5 billion and attract $20 billion in FDI to India.
- •New Zealand has abolished customs duties on all Indian exports, benefiting textile, pharmaceutical, leather, and auto components sectors.
- •Tax exemptions are not granted for New Zealand's primary exports like butter, cheese, and onions to protect Indian farmers.
- •A special quota of 5,000 annual work visas for Indian IT & Skilled Professionals and post-study work visas for STEM students in New Zealand are included.
Key Questions Answered
The historic Free Trade Agreement between India and New Zealand is officially set to come into effect on October 20, 2026, coinciding with the auspicious day of Vijaya Dasami.
The agreement aims to increase bilateral trade from $2.4 billion to $5 billion and facilitate approximately $20 billion in foreign direct investment into India over the next 15 years.
With the cancellation of the roughly 10% customs duty, India's textile, pharmaceutical, leather, and auto components manufacturing sectors will experience significant benefits.
