Business · Trade · 6 hrs ago
India notifies first tariff cuts under New Zealand trade deal
India has notified its first tariff cuts for selected imports from New Zealand under a bilateral free trade agreement.
The deal takes effect on October 20 and covers products including some meat, fish, wine, honey, kiwi fruit and furniture.
The notification sets different duty rates and annual import limits for some goods, including a 40-tonne quota for certain honey and a 200-tonne quota for albumins.
Importers must meet product and origin conditions to claim the concessions, and quota benefits apply only within the stated limits.
Dairy and some agricultural goods are excluded from tariff reductions under the agreement.
The changes set rules for trade between the two countries, whose goods trade was about $1.13 billion in 2025-26; the notification specifies the concessions that apply when the deal begins.
India has notified its first customs duty concessions for specified imports from New Zealand under a bilateral free trade agreement.
The agreement takes effect on October 20, and the concessions depend on tariff classification, product-specific conditions and proof of New Zealand origin.
Specified sheep meat imports will have zero basic customs duty and specified furniture and related products will also receive zero basic customs duty.
The notification sets different duties and annual import quotas for products including fish, wine, manuka honey, kiwi fruit and albumins.
India has excluded several sensitive categories, including dairy products and specified agricultural goods, from tariff liberalisation.
- Who
- India has notified the concessions for specified imports from New Zealand.
- What
- The first tranche sets customs duty concessions and tariff-rate quotas under the bilateral free trade agreement.
- When
- The notification was issued late on Friday. The agreement takes effect on October 20.
- Where
- India; the concessions apply to specified imports from New Zealand.
- Why
- Not stated.
This story does not have two clearly opposing sides.
India’s Department of Revenue issued a notification setting customs duty rates and tariff-rate quotas for specified imports from New Zealand.
The bilateral free trade agreement is due to take effect.
- Agreement start
- October 20
- Sheep meat duty
- Zero basic customs duty, agriculture infrastructure and development cess, and health cess for specified imports
- Honey quota
- 40 tonnes annually for qualifying manuka honey valued at $20 per kg or more but below $30 per kg
- Albumins quota
- 200 tonnes annually, with an in-quota basic customs duty of 10%
- Goods trade
- About $1.13 billion between India and New Zealand in 2025-26