The proposed free trade agreement (FTA) between India and New Zealand, set to be signed on April 27, is expected to open up significant opportunities for domestic industries, including leather exporters from Agra, Union Commerce and Industry Minister Piyush Goyal said on Sunday.
Goyal is currently in Agra along with New Zealand’s Trade and Investment Minister Todd McClay. The two leaders held discussions with representatives from various sectors, including leather and sports goods industries.
The FTA is aimed at doubling bilateral trade and providing duty-free access for Indian exports to the New Zealand market, while also attracting investments worth USD 20 billion over the next 15 years.
“Goods exported from India to New Zealand will face zero duty, creating major opportunities for sectors such as Agra’s leather industry and others,” Goyal said, adding that the agreement would help boost two-way trade, which currently stands at around USD 2.4 billion.
Also read: Textiles, garment exports fall 2.2 pc in 2025-26: GTRI
Agra, known as one of India’s largest leather and footwear hubs, plays a vital role in both domestic supply and exports. The sector, largely driven by MSMEs, is expected to benefit from duty-free access to the New Zealand market once the agreement comes into effect.
He further noted that the FTA is likely to be signed on Monday and is expected to enhance trade ties between the two countries in the coming months.
On the political front, Goyal expressed confidence that the NDA would form governments in Tamil Nadu and West Bengal. He also criticised the Aam Aadmi Party, saying, “A corrupt group remains around Arvind Kejriwal, and it is natural that they (seven AAP Rajya Sabha MPs) have left the party. It is possible that more may leave in the future.”
Meanwhile, the two ministers also visited the iconic Taj Mahal. They arrived early in the morning with their spouses and spent nearly two hours at the site, where a guide briefed them on its history. Goyal added that McClay and his wife had expressed a keen interest in visiting the monument, which led to the tour being arranged.
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