New Delhi, 20 October (H.S.): Welcoming the implementation of the India-New Zealand Free Trade Agreement (FTA), Chandni Chowk MP and Confederation of All India Traders (CAIT) National Secretary General Praveen Khandelwal said on Tuesday that India was forging strategic trade partnerships that translated national aspirations into tangible opportunities for the Indian business community.

Khandelwal said the landmark agreement would further strengthen the vision of taking local products global, building an Atmanirbhar Bharat (self-reliant India) and realising the goal of a Viksit Bharat (developed India).

He said the agreement would create extensive export opportunities for Indian textiles and apparel, leather and footwear, gems and jewellery, engineering goods, automobiles and auto components, pharmaceuticals, chemicals, agricultural products and processed food items.

The provision for zero customs duties, he added, would enhance the competitiveness of Indian products in the New Zealand market and benefit micro, small and medium enterprises (MSMEs), artisans, farmers, manufacturers, women entrepreneurs and exporters.

Khandelwal urged Indian traders, manufacturers and MSMEs to make the most of the agreement and further strengthen the global recognition and reach of products made in India.

He also highlighted the new opportunities the agreement would create for Indian professionals and young people. Both countries have set a target of increasing bilateral trade in goods and services to 7 billion New Zealand dollars by 2030.

The agreement could play a significant role in accelerating exports, generating employment and supporting economic growth, Khandelwal said.

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Hindusthan Samachar / Jun Sarkar