Indian leather exporters inspect hides in an Agra workshop, symbolizing new market access.
New Delhi: India’s recently inked Free Trade Agreement (FTA) with New Zealand is poised to unlock substantial opportunities for the nation’s leather industry, particularly for exporters based in Agra. The agreement promises to grant these businesses duty-free access to the New Zealand market, a move expected to significantly enhance trade volumes and attract investment.
Union Minister Piyush Goyal highlighted the potential impact of the FTA, emphasizing that it aims to double bilateral trade and attract considerable investment over the next fifteen years. For Agra’s leather sector, known for its significant contribution to India’s exports, this development represents a strategic opening to a new international market.
The pact is designed to foster deeper economic ties between the two nations, with a specific focus on sectors where Indian businesses can leverage preferential market access. The leather industry, a key employer and export earner for India, is anticipated to be a major beneficiary.
Industry analysts suggest that the FTA could lead to increased production and export of Indian leather goods, potentially driving further investment in manufacturing capabilities and technology upgrades within the sector to meet international standards and demand.
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