New Delhi: India-New Zealand Free Trade Agreement will come into force October 20, Commerce and Industry Minister Piyush Goyal said Monday.
The two countries had April 27 signed the Free Trade Agreement (FTA) to boost two-way commerce in goods and services and promote investments.
The agreement will come into force on Dussehra, which is on Oct 20, Goyal said.
The FTA provides duty-free access for 100 per cent of India’s exports to New Zealand.
Currently, New Zealand maintains peak tariffs of up to 10 per cent on key Indian goods, including ceramics, carpets, automobiles, and auto components.
New Zealand has committed to invest USD 20 billion over 15 years in India.
PTI