Now Reading: India cuts customs duty on New Zealand wine, honey, kiwi from 20 October
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India cuts customs duty on New Zealand wine, honey, kiwi from 20 October
India cuts customs duty on New Zealand wine, honey, kiwi from 20 October
India has issued the first list of customs duty concessions on imports from New Zealand under the bilateral free trade agreement (FTA), effective 20 October. The finance ministry’s notification of 16 October specifies revised basic customs duty (BCD) and cess rates for selected products, including wine, manuka honey, kiwi fruit and sheep meat.
Sheep meat will attract zero BCD, while kiwi fruit valued at $2.50 per kg or more will be levied at 15%. Several types of fish face a BCD of 25.71%, with zero agriculture infrastructure and development cess and health cess. The notification introduces a tariff-rate quota (TRQ) system, allowing a fixed quantity of select products at concessional rates. Importers must meet conditions and prove New Zealand origin. Dairy products and major agricultural items are excluded from the concessions.
Indian Opinion Analysis
The notification signals a calibrated opening of the Indian market to New Zealand farm goods, keeping sensitive sectors like dairy out of the first tranche. The zero-duty on sheep meat and the 15% slab on kiwi fruit will benefit New Zealand exporters directly, while Indian importers must navigate separate tariff lines and TRQ limits for each shipment. The real next step is on 20 October, when the new rates take effect and traders begin testing the classification and documentation requirements set by the revenue department.
Source: tv9hindi.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
