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India-New Zealand Free Trade Agreement (FTA)

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Context:

India and New Zealand first began negotiating the Comprehensive Economic Cooperation Agreement (CECA) in April 2010.

Key Highlights:

  • Talks stalled in February 2015 after 10 rounds of discussions.
  • March 2025: The two nations officially resumed negotiations for a mutually beneficial Free Trade Agreement (FTA).
  • Announcement followed a meeting between Commerce Minister Piyush Goyal and New Zealand Trade Minister Todd McClay.
  • New Zealand PM Christopher Luxon is on a four-day visit to India.

Key Objectives of the FTA

  • Enhance supply chain integration.
  • Improve market access for businesses and consumers.
  • Strengthen bilateral trade, which surpassed $1 billion during April 2024 – January 2025.

Challenges in Negotiations

a) Tariff Disparity

  • New Zealand
    • Low average tariff of 2.3%.
    • More than 50% of imports already duty-free → Indian goods already have significant market access.
  • India
    • Higher average tariff of 17.8%.
    • Would require substantial tariff cuts, making the FTA less attractive for India.

b) Dairy, Meat, and Wine Exports

  • New Zealand’s demands
    • Greater access to India’s dairy market (previously resisted by India).
    • Lower tariffs on dairy, meat, and wine exports.
  • India’s stance
    • Strong protectionist approach to dairy due to the millions of farmers dependent on the sector.
    • Currently, India’s dairy imports from New Zealand are minimal ($0.57 million).
    • Might allow limited imports of value-added dairy products but not raw dairy.

c) Movement of Skilled Professionals & Services

  • India’s demand
    • Easier mobility for Indian skilled workers.
    • Better access for IT and service sector companies in New Zealand.
  • Potential U.S. Influence
    • Pressure on India to open its dairy and agriculture sector could impact negotiations.

Next Steps

  • Both countries must find common ground on tariffs, market access, and services.
  • The success of the FTA will depend on balancing India’s domestic interests with trade benefits.

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