India-New Zealand trade pact may come into force from Oct 19

New Delhi: The India-New Zealand free trade agreement is likely to come into force from October 19, an official said.

The two countries had on April 27 signed the free trade agreement (FTA) to boost two-way commerce in goods and services and promote investments.

The FTA provides duty-free access for 100 per cent of India’s exports to New Zealand.

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Currently, New Zealand maintains peak tariffs of up to 10 per cent on key Indian goods, including ceramics, carpets, automobiles, and auto components.

New Zealand has committed to invest USD 20 billion over 15 years in India.