BusinessPhoto: MintIndia-New Zealand FTA: Zero Duty on Sheep Meat, Kiwi Fruit at 15%
India implemented the first import duty concessions under its free trade agreement with New Zealand starting October 20. The Finance Ministry notified revised customs duty rates, including zero basic customs duty and cess on fresh, chilled, and frozen sheep meat. Kiwi fruit imports valued at $2.50 per kg or more will face a 15% basic customs duty. Concessions also apply to products like wine and manuka honey, subject to specific classifications and conditions.
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