New Delhi: The Confederation of Indian Industry (CII) on Monday said that New Zealand’s commitment to facilitate $20 billion in investment over 15 years is expected to catalyse the development of industrial infrastructure, manufacturing ecosystems, and innovation clusters across India.
Hailing the signing of the India–New Zealand Free Trade Agreement (FTA), the apex industry chamber said that the FTA’s provision of 100 per cent duty-free access for Indian exports is expected to unlock significant opportunities for trade expansion in the coming years.
“The FTA marks a significant milestone for Indian industry and will substantially enhance the competitiveness of Indian exports. By eliminating tariffs on key sectors such as textiles, leather, ceramics, and auto components, it unlocks new avenues for scale, market diversification, and sustained export growth,” said Chandrajit Banerjee, Director General, CII.
“The agreement will enhance productivity, reduce trade costs, and provide strong support to MSMEs. By fostering innovation, attracting investment, and strengthening global linkages, while safeguarding key sectors, it reinforces India’s long-term growth trajectory and resilience in the global economy,” he mentioned.
Key sectors such as transport and automotive, pharmaceuticals, plastics and rubber, electrical and electronic equipment, and mechanical machinery are poised to scale up exports, enhance competitiveness, and strengthen their presence in global markets.
Notably, the pact is aimed at doubling bilateral trade to $5 billion over the next five years, signalling strong growth potential and renewed momentum in economic ties.
Looking ahead, the agreement’s innovative linkage between trade and investment is particularly noteworthy.
The agreement opens up promising avenues for future collaboration across high-growth sectors such as advanced manufacturing, agritech and food processing, digital technologies, pharmaceuticals, etc.
By leveraging India’s scale and digital capabilities alongside New Zealand’s innovation strengths, both countries can co-create solutions, drive productivity, and build globally competitive industries. Partnerships in sustainable and green manufacturing are expected to further align with global climate goals and support the transition to low-carbon growth pathways.
“We look forward to working closely with stakeholders in both nations to fully realize the potential of this agreement and to strengthen this strategic partnership for the future,” said Banerjee.
(IANS)
