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Jeet B Bhayani (SEBI RA)

29th Dec · SEBI-Registered Analyst

India and New Zealand have made significant progress in enhancing their economic ties and advancing toward a Free Trade Agreement (FTA), which will benefit both countries by creating jobs, boosting income, and expanding trade opportunities. New Zealand's Prime Minister, Mr. Christopher Luxon, remarked that significant opportunities exist for New Zealand to tap into India's vast market of 1.4 billion consumers, benefiting Indian consumers through enhanced options, improved prices, and superior supply chains. The Free Trade Agreement will assist in reducing trade barriers among countries across different areas such as agriculture, dairy goods, food processing, education, and the services industry. From India's viewpoint, the suggested Free Trade Agreement aligns significantly with the broad trade and development strategy, which aims to enhance integration into the global value chain, promote investments, and boost overall export competitiveness. An increased presence in New Zealand’s market would benefit Indian exporters, encompassing pharmaceuticals, textiles, engineering, IT services, and the professional sector. In addition, the agreement is anticipated to facilitate technology transfer, skills development, and high-value industries, leading to increased productivity and job opportunities. With both nations striving for more varied and robust trade connections amid global unpredictability, the Free Trade Agreement between them is anticipated to positively influence the enhancement of overall incomes and foster sustainable economic growth.

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