India has signed a landmark Free Trade Agreement with New Zealand, marking a significant milestone in international trade and creating strong growth prospects for the country’s textile and powerloom sector.
Announced under the leadership of Narendra Modi, the agreement provides Indian exporters with 100% duty-free access across all tariff lines. This move is expected to boost exports of powerloom fabrics, home textiles, apparel, and made-ups, enabling seamless entry into the New Zealand market.
Beyond trade in goods, the agreement also strengthens cooperation in services, mobility, education, healthcare, and traditional medicine. Additionally, New Zealand’s long-term commitment of USD 20 billion is expected to support India’s industrial development, infrastructure growth, innovation, and job creation across multiple sectors.
PDEXCIL Chairman K. Sakthivel welcomed the development and highlighted its importance for the industry.
“The India-New Zealand FTA is a bold and visionary step by the Government of India. For our powerloom industry-the backbone of India’s textile exporters-this agreement is a true breakthrough. The 100% duty-free access means our weavers, manufacturers and exporters can now reach New Zealand’s markets with greater confidence and competitiveness. I am particularly encouraged that India has stood firm on protecting its core interests, reflecting a deal that is both ambitious and responsible. New Zealand’s USD 20 billion long-term commitment further underlines deep confidence in India’s growth story. PDEXCIL and our entire powerloom community wholeheartedly welcome this landmark agreement and pledge our full support in maximizing its potential for our exporters, our weavers and nation.”
The agreement is expected to significantly enhance India’s global competitiveness in textiles while opening new avenues for exporters and strengthening bilateral economic ties.
