AYUSH, culture, fishing, audiovisual, tourism, forestry, horticulture, and traditional knowledge systems have all agreed to collaborate, according to Piyush Goyal.
Under the terms of the new Free Trade Agreement (FTA) between the two nations, Indian students studying in New Zealand would now be eligible for work permits, depending on their course of study, according to Union Commerce Minister Piyush Goyal on Monday.
According to Goyal, individuals who complete a degree program or earn a bachelor's degree with honors will be eligible for a three-year work visa, while those who complete a post-graduate degree or graduate in STEM (Science, Technology, Engineering, and Mathematics) will be eligible for a four-year work visa.
The new FTA will assist forestry, AYUSH, and other industries.
AYUSH, culture, fishery, audiovisual, tourism, forestry, horticulture, and traditional knowledge systems have all committed to collaborate, according to Goyal.
The following are also outlined in the India-New Zealand Free Trade Agreement:
Approximately 5,000 professionals will be qualified for professional work visas, including yoga instructors, chefs, AYUSH practitioners, and nurses.
— The agreement also opens up 118 sectors for participation, said Goyal.
These industries include telecom, tourism, IT, audio-visual, and other services.
Goyal added that the India-New Zealand Free Trade Agreement (FTA) is "comprehensive" and "forward looking," offering professionals and students better educational and career prospects.
"This is a free trade agreement with New Zealand which is both comprehensive and forward looking, reflecting the vision of our leaders, Prime Minister Narendra Modi and Prime Minister Christopher Luxon to elevate the relations to much higher strategic levels, much more comprehensively, which will not only include trade, education, R&D and innovation, services Sector, tourism, sports," Piyush Goyal told ANI.
FTA between India and New Zealand
With New Zealand providing zero-duty market access on 100% of its tariff lines covering all Indian exports from the date of entry into force, the Commerce Minister also emphasized that the India-New Zealand Free Trade Agreement is anticipated to significantly increase India's exports.
The accord is expected to have the greatest impact on labor-intensive industries. Indian textile and apparel exporters will now have zero-duty access across 1,057 tariff lines after New Zealand eliminated duties that had previously reached 10%.
In 2024–2025, India's textile and clothing exports totaled USD 36.9 billion, with $103 million going to New Zealand. Given that New Zealand imports textiles valued at around $1.9 billion from the world each year.
0 Comments