Zero-Duty Access Under New Zealand FTA To Boost Jewellery Exports To USD 50 Mn In 3 Years: GJEPC

With zero-duty access under the FTA, exports are projected to rise to nearly USD 50 million over the next three years, according to the industry body. GJEPC Chairman Kirit Bhansali said, “In today’s turbulent global environment, India’s continued progress in advancing and concluding FTAs is enabling the industry to strategically diversify its export markets and reduce overdependence on any single geography such as the US or regions like the GCC,” as quoted by ET. “The India–New Zealand FTA, following the Australia agreement, is a timely step in this direction,” he added. He noted that New Zealand’s high per capita jewellery consumption offers new opportunities, while the FTA provides a duty advantage over competitors such as China and Thailand, improving India’s competitiveness and potential market share. The council highlighted that, along with Australia and Fiji, New Zealand represents a key market in the Oceania region for export diversification. The agreement is expected to support growth across segments including gold, silver, platinum, studded, and fashion jewellery. It also opens avenues for leveraging the Indian diaspora, expanding retail presence through partnerships, and strengthening long-term trade and investment ties in the region. (KNN Bureau)