Winning Bizness Desk
Mumbai.New Zealand Parliament Passes India Free Trade Agreement
New Zealand’s Parliament has passed a legislation to implement its free trade agreement with India, thus paving the way for lower or zero tariffs on about 95 per cent of New Zealand exports to the Indian market.
The legislation passed 93-to-29 with the opposition Labour Party supporting the measure.
More than half of the products covered by the agreement will become duty-free from the day it takes effect.
“For exporters, the benefits are immediate and substantial,” New Zealand Trade Minister Mr Todd McClay said in a statement.
“We expect this high-quality agreement to enter into force this year, delivering on our promise to complete a free trade agreement with India this term.”
Under the free trade agreement, all Indian goods will receive duty-free access to the New Zealand market. It has also agreed to invest USD 20-billion in India over the next fifteen years.
India and New Zealand signed the agreement in April, with the deal now requiring both countries to complete their respective ratification procedures before it can take effect.
The agreement is expected to expand market access and reduce trade barriers between the two countries.
An important point to note here is that the two-way trade between India and New Zealand totalled 3.99-billion New Zealand dollars or USD 2.29-billion in June of this year.
India ranked as New Zealand’s ninth largest market for goods and services exports during the period.
The free trade agreement is a part of efforts by both countries to strengthen bilateral economic relations and up trade and investment. The agreement will become effective after both India and New Zealand complete their respective ratification procedures.
India’s Gold Imports Decline 57.75 per cent in August
The country’s gold imports registered a sharp southward slide in August following a steep increase in customs duty on the precious metal, according to data from the Ministry of Commerce.
Gold imports slid by 57.75 per cent to USD 2.3-billion in August, the data showed. However, silver imports increased by 127 per cent to USD 1.02-billion during the month, according to the data.
The government had increased import duty on precious metals from 6-to-15 per cent effective May 13 of this year.
Cumulatively, during the April-to-August 2026-27 period, gold imports moved northward by 3.38 per cent to USD 17.47-billion, while silver imports registered a fall by 8.81 per cent to USD 1.74-billion.
An important point to highlight here is that Switzerland was the biggest source of gold imports, with about a 40 per cent share.
The United Arab Emirates (UAE) came in second with an over 16 per cent share and it was followed by South Africa with about a ten per cent share.
The point to note here is that gold accounts for over five per cent the country’s total imports.
India is presently the world’s second-biggest gold consumer after its northern neighbour China.
Imports majorly help to meet demand from the jewellery industry besides having implications for India’s current account deficit (CAD).
Rainfall Deficit in Rajasthan Expected to Result in Lower Kharif Output
Kharif crop production in the western state of Rajasthan could be adversely affected, because of this year’s rainfall deficit. Estimates suggest that moth yield could only be around 75 per cent of normal levels while moong output could be 50 per cent lower.
Similarly, a lower output is also expected for guar and groundnut.
The state had set a target of 25.50-lakh hectares for guar sowing this year, but the crop was sown on only 22.34-lakh hectares.
Incidentally, Rajasthan happens to be one of the largest producers of guar, with western Rajasthan as the primary region for its cultivation.
For sowing moong, the state had set a target of 26.50-lakh hectares but only 23.17-lakh hectares was achieved.
What has adversely affected the sowing of these crops is the deficit rainfall in the western Rajasthan districts of Jalore, Pali, Sirohi, Barmer, Jodhpur and Jaisalmer. These districts, it must be noted, are the primary regions for both moth and moong cultivation.
Tamil Nadu Govt Bags Rs 15,300-cr UK Investment Commitments
The recent visit of Tamil Nadu’s chief minister Mr Joseph Vijay to the United Kingdom (UK) has resulted in fresh investment commitments worth Rs 15,000-crore in the southern state. The visit has also helped advance plans for a motor sports city in the state.
The agreements signed are expected to create more than 10,000 direct and indirect jobs.
The Tamil Nadu chief minister left for the United Kingdom on September 10 and he was leading a delegation to position the state as a major international destination for advanced manufacturing and technology.
On September 12, the Indian High Commissioner to the United Kingdom, Mr Kumaran Periasamy met chief minister Mr Vijay in London to discuss emerging trade opportunities and partnerships under the Comprehensive Economic and Trade Agreement framework.
On September 14, the new MoUs and a Letter of Intent were formalised in London across the sectors including auto components, Research and Development (R&D), renewable energy, power grid equipment and Global Capability Centres.
The state-owned Guidance Tamil Nadu and senior government officials also held high-level meetings with ten leading organisations from sectors such as aerospace, defence, chemicals, logistics, retail and legal services, among others.
There will also be a joint report to identify trade opportunities under the UK-India CETA.
The outcomes included sourcing agreements between the United Kingdom’s retailers and Tamil Nadu textile manufacturers, a planned visit by an UK aerospace and defence delegation to Hosur, an October visit to Chennai by a delegation from the Northern England Mayoral Space Authority, skill development partnerships in financial services, UK-TN trade workshops and a joint report to identify trade opportunities under the UK-India CETA.
During this visit, Mr Vijay also inspected the Silverstone Motor Racing Circuit as a part of follow-up action on his Rule 110 announcement in the state assembly on September 3, 2026, on setting up a Motor Sports City in Tamil Nadu.
The Tamil Nadu chief minister also reviewed the race control systems, track facilities, race museum and safety and operational arrangements for long distance racing.
He also flagged off the 2026 Michelin Le Mans Cup race at Silverstone, which featured Tamil film star and racing driver Ajith Kumar.
Tea Board, NIT, ISRO Unit Join Hands for AI-based Tea Plantations’ Monitoring
Tea Board India has recently entered into a tripartite MoU with the National Remote Sensing Centre (NRSC) of ISRO and NIT Rourkela to develop an AI-based system for monitoring tea plantations, the Board said.
The project, scheduled to run till March 2029, will be implemented across major tea-growing regions of the country, the statement said.
The Board said that the MoU was signed for the launch of a Research and Development (R&D) project titled Chaayankan—Comprehensive AI-based Geospatial Data Analytics for Tea Plantation Monitoring.
The initiative will use hyperspectral and optical remote sensing data from satellites and Unmanned Aerial Vehicles (UAVs) along with ground observations, weather inputs and entomological data to develop AI and machine learning-based solutions for tea plantations monitoring.
The project will focus on developing AI/ML algorithms for mapping of tea-growing areas and monitoring biotic and abiotic stress using hyperspectral data, the statement said.
It will also seek to forecast major pests and diseases affecting tea gardens and estimate green leaf yield using UAV and satellite-based hyperspectral indices, the Board said.
The Tea Board will provide technical and ground-level support through its existing administrative framework to facilitate implementation and integration of field data.
