First shipment leaves Telangana

Telangana flagged off its first consignment of groceries from Dandu Malkapur in Choutuppal of Yadadri-Bhuvanagiri district to New Zealand under the Free Trade Agreement on Monday, October nineteenth.

Agreement takes effect Tuesday

The Free Trade Agreement came into force on Tuesday, October twentieth. Additional Director General of Foreign Trade Rendla Sampath Kumar flagged off the truck at Frumar Agri Foods Pvt. Ltd. in Choutuppal.

One hundred percent duty-free access

The agreement enables one hundred percent of tariff lines on Indian exports to New Zealand to become duty-free. It benefits textiles, clothing, leather, footwear, pharmaceuticals, marine products, agriculture, chemicals, plastics and electrical goods.

Indians as economic bridge

Sampath Kumar said Indians account for about five percent of New Zealand's population and act as an economic and cultural bridge. They will greatly benefit from exports under the FTA.

“Indians, who account for about 5% of New Zealand's population and act as our economic and cultural bridge, will greatly benefit from exports under the FTA.”

Deal terms and investment

India and New Zealand announced negotiations in March last year.The agreement was signed in April and ratified in September.New Zealand receives tariff concessions on seventy point zero three percent of its tariff lines.

Frumar expands to wider market

Ramesh Movva, managing director of Frumar Agri Foods Pvt.Ltd., said the one hundred percent duty exemption significantly benefits his business.

Growth plans for Frumar

Movva said the agreement will help expand volumes and reach a wider market affordably.Presently the unit targets about two lakh Indians and others in New Zealand.

“This agreement will help us expand volumes and reach a wider market affordably. Locally too, the number of employees would increase from the present 500 as production volumes rise.”