The Confederation of Indian Textile Industry (CITI) warmly welcomes the conclusion of the Free Trade Agreement (FTA) negotiations between India and New Zealand for the immense benefit it can provide to the country’s textile and apparel sector as it seeks to diversify into newer markets.

The India-New Zealand FTA will provide zero-duty market access to 100% of India’s exports. In 2024, India was the 3rd largest exporter of textile and apparel products to New Zealand, after China and Bangladesh. India’s textile and apparel exports to New Zealand stood at $138.65 million in 2024.

“Coming less than a week after the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman, the conclusion of the FTA negotiations between India and New Zealand shows India’s focus on market diversification for trade and services. For the textile and apparel sector, this surely means more market access opportunities. The industry will need to look at diversification of its product basket for deeper engagement with these new FTA partners,” CITI Chairman Ashwin Chandran said.

“CITI would like to convey its heartfelt gratitude to the Hon’ble Prime Minister, the Commerce Minister and all concerned officials for the swift conclusion of the FTA negotiations with New Zealand, which holds high potential for Indian textile and apparel products,” Chandran added.

The CITI Chairman said the India-New Zealand FTA will enable India’s textile and apparel exporters, who have been actively working on a diversification agenda, to reduce dependence on select markets and help the country in realising the national target of achieving textile and apparel exports worth $100 billion by 2030. The FTA with New Zealand will increase market access for Indian companies by making Indian textile and apparel products more attractive and price-competitive for existing and prospective buyers there, he added.

In July, India signed the Comprehensive Economic and Trade Agreement (CETA) with the United Kingdom. India is also in advanced stages of FTA-related discussions with the European Union, among others. Additionally, talks on a Bilateral Trade Agreement (BTA) are ongoing with the United States. India’s textile and apparel exports stood close to $38 billion in the financial year 2024-25.