New Delhi, Sept. 22 -- India and New Zealand have signed a free-trade agreement (FTA), which will come into force on 20 October. The FTA gives Indian exporters duty-free access across all tariff lines in New Zealand. In return, India has adopted a more calibrated approach, offering concessions on about 70% of tariff lines. The pact also covers services, investments, professional mobility, students and customs procedures.

Mint explains what the agreement means for businesses, exporters, farmers and professionals.

New Zealand has committed to eliminate customs duties on 100% of its tariff lines, covering all of India's current exports to the country. The government describes this as the first Indian FTA that gives the country full duty-fr...