SIMA has welcomed the India–New Zealand FTA signed on April 27, 2026, stating it offers duty-free access and new market opportunities for Indian textile exports amid global supply challenges.
Coimbatore:
The Southern India Mills’ Association (SIMA) has welcomed the India–New Zealand Free Trade Agreement (FTA), terming it a significant opportunity for the growth of India’s textile and apparel sector amid ongoing global challenges.
In a statement issued on April 27, 2026, SIMA Chairman Durai Palanisamy expressed appreciation to the Union Government for securing the agreement, noting that it comes at a crucial time when the textile industry is facing disruptions due to geopolitical developments, including the Middle East crisis.
He highlighted that the agreement provides 100 percent duty-free access for Indian textile exports to New Zealand, covering apparel, home textiles and made-ups. This is expected to enhance India’s competitiveness and strengthen its presence in the New Zealand market.
SIMA stated that the FTA also ensures MFN-equivalent benefits, creating a level playing field for Indian exporters and improving market access in a meaningful way. The association noted that such trade agreements are aligned with the government’s broader strategy of diversifying export markets and increasing value addition in the textile sector.
According to available data, New Zealand’s textile imports stood at over USD 1.9 billion annually in recent years, while India’s exports to the country have remained steady at around USD 130 million, accounting for roughly 7 percent market share. The FTA is expected to help India expand this share further.
The association also pointed out that India’s total bilateral trade with New Zealand currently stands at around USD 0.65 billion, with textiles contributing about USD 0.1 billion. The new agreement is expected to drive growth across segments including yarn, fabric, apparel and made-ups.
SIMA emphasised that the agreement supports the vision of building a strong manufacturing and export base under “Viksit Bharat 2047,” and contributes to the target of achieving a USD 350 billion textile and apparel market by 2030.
The association expressed confidence that the FTA will strengthen bilateral trade ties, open up new growth avenues and generate employment in the labour-intensive textile sector.
The Southern India Mills’ Association (SIMA) has welcomed the India–New Zealand Free Trade Agreement (FTA), terming it a significant opportunity for the growth of India’s textile and apparel sector amid ongoing global challenges.
In a statement issued on April 27, 2026, SIMA Chairman Durai Palanisamy expressed appreciation to the Union Government for securing the agreement, noting that it comes at a crucial time when the textile industry is facing disruptions due to geopolitical developments, including the Middle East crisis.
He highlighted that the agreement provides 100 percent duty-free access for Indian textile exports to New Zealand, covering apparel, home textiles and made-ups. This is expected to enhance India’s competitiveness and strengthen its presence in the New Zealand market.
SIMA stated that the FTA also ensures MFN-equivalent benefits, creating a level playing field for Indian exporters and improving market access in a meaningful way. The association noted that such trade agreements are aligned with the government’s broader strategy of diversifying export markets and increasing value addition in the textile sector.
According to available data, New Zealand’s textile imports stood at over USD 1.9 billion annually in recent years, while India’s exports to the country have remained steady at around USD 130 million, accounting for roughly 7 percent market share. The FTA is expected to help India expand this share further.
The association also pointed out that India’s total bilateral trade with New Zealand currently stands at around USD 0.65 billion, with textiles contributing about USD 0.1 billion. The new agreement is expected to drive growth across segments including yarn, fabric, apparel and made-ups.
SIMA emphasised that the agreement supports the vision of building a strong manufacturing and export base under “Viksit Bharat 2047,” and contributes to the target of achieving a USD 350 billion textile and apparel market by 2030.
The association expressed confidence that the FTA will strengthen bilateral trade ties, open up new growth avenues and generate employment in the labour-intensive textile sector.