India and New Zealand have reached an agreement on a free trade agreement (FTA), which will be officially signed in the first quarter of next year, the government said in a statement released on Tuesday, December 23.
Under the terms of the agreement, India will receive duty-free access to export all goods to New Zealand, and the latter will receive duty relief and market access for about 70 percent of India's tariff positions, covering about 95 percent of New Zealand's exports to India, on a phased basis, Indian government officials said.
New Zealand is also committed to investing $20 billion in India over 15 years, while qualified Indian professionals should gain easier access to the New Zealand labor market, officials said.
