Indian exporters urged to capitalise on New Zealand trade pact benefits

Domestic exporters should move swiftly to maximise opportunities under the India-New Zealand free trade agreement, according to Sanjay Budhia, Chairman of the Confederation of Indian Industry's National Committee on Exports. Speaking on Thursday, Budhia advised businesses, particularly micro, small and medium enterprises, to prioritise engagement with New Zealand buyers and familiarise themselves with product-specific rules of origin to ensure compliance and capture full benefits.

Budhia, who also heads Patton International Ltd, emphasised that Indian exporters should leverage government support mechanisms including the Export Promotion Mission scheme. "New Zealand can serve as a gateway to the wider Oceania and Pacific Island markets," he noted, highlighting the strategic importance of the relationship beyond bilateral trade.

The free trade agreement, which came into effect on October 20, is designed to strengthen bilateral trade and investment ties between the two nations. The pact grants Indian exporters duty-free access across all tariff lines, removing traditional barriers that previously constrained commerce. Industry observers view the agreement as a significant opportunity for Indian businesses to diversify export markets and strengthen economic connections in the Asia-Pacific region.

Experts recommend that Indian businesses conduct thorough research into product classifications and certification requirements specific to the New Zealand market before engaging in trade under the new framework. Early movers are expected to gain competitive advantages as supply chains and buyer relationships develop under the tariff-free regime.