India, New Zealand ink free trade agreement
New Delhi (PTI): India and New Zealand on Monday inked a free trade agreement, aimed at boosting two-way commerce and investments.
The pact was signed by Commerce and Industry Minister Piyush Goyal and visiting New Zealand's Trade and Investment Minister Todd McClay.
The FTA provides duty-free access for 100 per cent of India's exports to New Zealand, covering all tariff lines or produce categories, and is expected to significantly boost MSMEs and employment by enhancing competitiveness in labour-intensive sectors such as textiles, apparel, leather, footwear, gems and jewellery, engineering goods, and processed foods.
Earlier, New Zealand maintained peak tariffs of up to 10 per cent on key Indian exports, including ceramics, carpets, automobiles, and auto components.
With zero-duty market access from entry into force as New Zealand's other trade partners, Indian products will be fully competitive in that country, enjoying a level playing field.
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Significantly, India also secured duty-free inputs for its manufacturing sector, including wooden logs, coking coal, and waste and scraps of metals, lowering production costs and enhancing the global competitiveness of the Indian industry.
On the other hand, India has offered tariff liberalisation on 70.03 per cent of tariff lines covering 95 per cent of bilateral trade value, while keeping 29.97 per cent of tariff lines excluded to protect India's sensitive sectors.
The products that are kept in exclusion are mainly -- dairy (milk, cream, whey, yoghurt, cheese etc.), animal products (other than sheep meat), agricultural products (onions, chana, peas, corn, almonds), sugar, artificial honey, animal, vegetable or microbial fats and oils, arms and ammunition, gems and jewellery, copper and articles thereof (cathodes, cartridges, rods, bars, coils), aluminium and articles thereof (ingots, billets, wire bars) among others.
On 30 per cent of tariff lines of New Zealand, India will provide duty elimination on goods such as wood, wool, sheep meat, and leather-raw hides.
Similarly, 35.60 per cent of tariff lines are subject to phased elimination over 3, 5, 7, and 10 years, including petroleum oil, malt extract, vegetable oils, selected electrical and mechanical machinery, and peptones.
New Zealand products which enjoy tariff reductions include wine, pharmaceutical drugs, polymers, aluminum, iron and steel articles, and goods that only 0.06 per cent fall under tariff rate quotas, including Manuka honey, apples, kiwi fruit, and albumins, including milk albumin.
The FTA also includes a commitment to facilitate USD 20 billion in investment into India.
A rebalancing clause is incorporated into the Agreement to provide a framework for addressing any shortfall in investment delivery, thereby ensuring robust and tangible economic outcomes.
Total bilateral trade in goods and services reached USD 2.4 billion in 2024.
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Dalit outfits call state-wide hartal over dental student’s death
Thiruvananthapuram (PTI): Various Dalit organisations on Monday announced a state-wide hartal seeking justice in the death of Kannur Dental College student Nithin Raj.
The hartal will be observed on Tuesday from 6 am to 6 pm.
As many as 52 Dalit organisations, including Justice for Nithin Raj Action Council, have announced the strike.
Organisations requesting cooperation for the strike said that no vehicles will be forcibly stopped and that all essential services are exempted.
Raj, a first-year BDS student at a private dental college in Anjarakkandy in Kannur district, was found critically injured after falling from a building on April 10 and later succumbed to his injuries.
Police have registered a case against two faculty members on charges of abetment of suicide and under provisions of the SC/ST (Prevention of Atrocities) Act, following allegations by the student’s family that he was subjected to caste- and complexion-based harassment.
Kerala Pinnokka Samudaya Munnani (KPSM), one of the organisations supporting the hartal, alleged in a statement that police had shown apathy in the investigation and were attempting to protect the accused in the case.
KPSM state president K V Padmanabhan and general secretary S Anwar alleged that the probe into Raj’s death was being deliberately misdirected and delayed.
While the family has firmly alleged that caste discrimination and mental harassment by faculty members led to the student’s death, police were attempting to divert the investigation towards loan app borrowings, they claimed.
The organisation alleged that this was a planned move to shield the real accused.
KPSM further alleged that by deliberately delaying the arrest of the accused teachers, police enabled them to secure anticipatory bail.
They said there was no confidence in the present police investigation and demanded that the case be handed over to an independent agency at the earliest.
