India-New Zealand FTA: Sheep meat gets zero duty, kiwi fruit at 15% as tariff cuts take effect October 20
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓India notified its first customs duty concessions for New Zealand imports starting October 20.
- ✓Under the new free trade agreement, sheep meat now gets zero duty, while kiwi fruit imports face a 15% rate.
- ✓The Finance Ministry issued these rules on October 16, though dairy products remain outside these changes.
Story at a Glance
- Category
- BUSINESS
- Reported By
- mint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
India has notified its first set of customs duty concessions for imports from New Zealand under the bilateral free trade agreement, with preferential rates taking effect on October 20.
India has announced the first set of import duty concessions under its free trade agreement (FTA) with New Zealand, notifying preferential customs rates for selected products from October 20.
The Finance Ministry issued a notification on October 16 specifying revised basic customs duty (BCD) and cess rates for eligible imports. The concessions cover designated tariff lines and are subject to product-specific classifications and conditions.
The notified measures include duty relief for sheep meat and preferential rates for eligible kiwi fruit imports, alongside concessions covering products such as wine and manuka honey.
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