FTA to Offer Longer Work Visas for Students: Goyal
Union Commerce Minister Piyush Goyal announced that the newly established free trade agreement (FTA) between India and New Zealand will provide Indian students with the opportunity to obtain prolonged post-study work visas, as well as facilitate substantial growth in export opportunities across various industries.
In a speech held in New Delhi, Goyal characterized the India-New Zealand Free Trade Agreement as an all-encompassing and progressive agreement designed to elevate the bilateral partnership beyond commerce into realms like education, innovation, services, tourism, and interpersonal mobility.
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According to the accord, Indian students studying in New Zealand will now qualify for extended work permits upon completion of their education.
Goyal stated that individuals finishing regular degree programs can seek employment for a period of two years, whereas those enrolled in honours programs will be eligible for three-year work permits.
Graduates with backgrounds in STEM fields and postgraduate studies will have the opportunity to work in New Zealand for a maximum of four years.
The minister declared that the Free Trade Agreement (FTA) is projected to notably improve India's opportunities for export growth, thanks to New Zealand granting duty-free access on all tariff lines encompassing Indian exports starting from the agreement's implementation date.
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According to him, this will afford Indian enterprises a strategic advantage in the New Zealand market.
The agreement includes provisions for mobility that would enable Indian yoga instructors, AYUSH practitioners, chefs, nurses, and other skilled professionals to obtain professional work visas.
Goyal stated that around 5,000 professionals of this type are anticipated to take advantage of the updated arrangement. The agreement entails collaboration in various industries, such as AYUSH, fisheries, forestry, horticulture, audiovisual services, tourism, and traditional knowledge systems.
The government expressed that the Free Trade Agreement (FTA) would enhance the global presence of India's wellness ecosystem and bolster the growth of medical value tourism. Industries requiring significant labor input, such as textiles and apparel, are anticipated to experience substantial gains from the recent trade agreement.
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New Zealand has committed to removing tariffs that previously reached 10 percent, granting unrestricted access on over 1,000 tariff lines. In the fiscal year 2024–25, India's exports of textiles and apparel amounted to approximately $37 billion, with trade to New Zealand already demonstrating consistent expansion, a progression that authorities foresee will intensify in the wake of the accord.