The Indian textile and garment industry has welcomed the recently signed India-New Zealand Free Trade Agreement (FTA), viewing it as a timely opportunity to counter rising costs and ongoing trade disruptions. Industry body Southern India Mills\u2019 Association (SIMA) said the pact would open new avenues for growth and strengthen India\u2019s presence in a relatively untapped but promising market.<\/p>\n
In a statement, SIMA Chairman Durai Palanisamy expressed appreciation to the government for concluding the agreement, noting that it provides 100 per cent duty-free access for Indian textile exports, including apparel, home textiles and made ups. He added that the extension of MFN-equivalent benefits ensures a level playing field for Indian exporters and enhances meaningful market access.<\/p>\n
India’s textile industry has welcomed the India-New Zealand Free Trade Agreement (FTA), citing 100 per cent duty-free access as a boost to competitiveness and market diversification.
\nIndustry leaders said the pact will expand exports, support value-added segments, and strengthen resilience amid global disruptions, while creating jobs and enhancing long-term trade growth.<\/p>\n
Palanisamy noted that the agreement aligns with India\u2019s broader vision of building a strong manufacturing and export base under the \u2018Viksit Bharat 2047\u2019 roadmap and achieving a $350 billion textile and apparel market by 2030. He added that recent FTAs with key global markets are helping secure real market access and support industry expansion.<\/p>\n
The industry also pointed to the strategic importance of diversifying export markets amid geopolitical uncertainties, including disruptions linked to the Middle East. Government support through policy measures and supply chain interventions has helped the sector remain resilient, while exporters are being encouraged to explore new markets and focus on value addition.<\/p>\n
Echoing similar sentiment, Suketu Shah, CEO of Vishal Fabrics Ltd, said the agreement is a strong step forward, offering duty-free access to a high-potential market and enhancing India\u2019s competitiveness. He noted that with bilateral trade currently around $2.4 billion and scope for further expansion, the pact opens new growth avenues for value-added textile exports and strengthens long-term trade ties between the two countries.<\/p>\n
Industry stakeholders believe the FTA will not only deepen bilateral trade but also generate employment in the labour-intensive textile sector while enabling Indian manufacturers to expand their global footprint.<\/p>\n
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Fibre2Fashion News Desk (KUL)<\/p>\n
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