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NZ-India Free Trade Agreement Officially Begins
- On Monday, Union Commerce and Industry Minister Piyush Goyal flagged off the first-ever JCB machine export to New Zealand from Pune, Maharashtra, ahead of the India-New Zealand Free Trade Agreement implementation on Tuesday.
- Granting 100% duty-free access for Indian exports, the India-New Zealand Free Trade Agreement effective Tuesday will open significant opportunities for manufacturers entering the New Zealand market.
- JCB India Managing Director Deepak Shetty projects overall machinery exports will reach around 18,000 units this year, up from approximately 15,000 last year, with shipments now reaching 140 countries.
- India and New Zealand are targeting $7 billion in bilateral trade by 2030, with the agreement reducing tariffs on 95% of New Zealand imports into India while protecting sensitive sectors like dairy.
- The pact also establishes a Temporary Employment Entry Visa pathway with a 5,000-person quota and commits New Zealand to invest $20 billion in India over the next 15 years.
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India-New Zealand trade pact effective from today
New Delhi, Oct 19: India's free trade agreement with New Zealand will come into force on October 20, allowing 100 per cent of Indian goods, including leather, footwear, apparel and textiles, to enter the country at zero import duty in the island country. The agreement, which will come into force at 12:01 am on October 20 in India, will also open a 1.4-billion Indian market for New Zealand goods. Besides, it will expand opportunities for services…
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aninews.inPiyush Goyal flags off first JCB machine export to New Zealand as FTA takes effect tomorrow
Union Commerce and Industry Minister Piyush Goyal on Monday flagged off the first-ever JCB machine export to New Zealand from Pune, Maharashtra, ahead of the implementation of the India-New Zealand Free Trade Agreement (FTA) on October 20.
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Leaning Left2Leaning Right4Center6Last UpdatedBias Distribution50% Center
Bias Distribution
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50% Center
L 17%
C 50%
R 33%
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