India issues first customs duty concessions under New Zealand free trade agreement, effective October 20

Key facts

• India has notified the first set of customs duty concessions under its free trade agreement (FTA) with New Zealand, effective October 20, covering products such as wine, manuka honey, kiwi fruit and sheep meat.
• The Finance Ministry issued the notification on October 16, prescribing revised basic customs duty (BCD) and cess rates for specified goods.
• Fresh, chilled and frozen sheep meat from New Zealand will attract zero basic customs duty, Agriculture Infrastructure and Development Cess (AIDC) and health cess.
• Eligible kiwi fruit imports valued at $2.50 per kg or more will attract a basic customs duty of 15%.
• Several listed fish tariff lines will attract a BCD of 25.71%, with AIDC and health cess at zero.
• The notification provides for tariff-rate quotas (TRQs), allowing specified quantities of selected products to enter India at preferential rates.
• Importers must meet product-specific requirements and furnish proof of New Zealand origin to qualify for the concessions.
• Dairy products and key agricultural items remain excluded from the concessions.
• The notification was issued by the Department of Revenue under Section 25(1) of the Customs Act, 1962.