Piyush Goyal flags off first JCB machine export to New Zealand as FTA takes effect tomorrow
The trade pact gives Indian goods zero-duty access in New Zealand and targets $7 billion in bilateral trade by 2030, officials said.
- 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.
12 Articles
12 Articles
Devdiscourse
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.
The Economic Times
Times of IndiaIndia-New Zealand FTA to kick in on Dussehra; duty-free access, $20 bn investment to boost trade
India and New Zealand are set to operationalise their Free Trade Agreement (FTA), marking a major milestone in bilateral economic ties. Commerce Minister Piyush Goyal and New Zealand’s Trade Minister Todd McClay outlined the opportunities the agreement could create for exporters, farmers, MSMEs and businesses in both countries. The deal provides 100% duty-free access for Indian goods entering New Zealand.The two countries are targeting $7 billio…
New Zealand's USD 20 Billion Investment Commitment to Boost India's Manufacturing, Jobs: Piyush Goyal
Get latest articles and stories on Business at LatestLY. Union Commerce and Industry Minister Piyush Goyal on Monday said New Zealand's commitment to facilitate USD 20 billion in investments into India under the bilateral Free Trade Agreement (FTA) would strengthen manufacturing, infrastructure and services while creating new employment opportunities. Business News | New Zealand's USD 20 Billion Investment Commitment to Boost India's Manufacturi…
India and New Zealand FTA has come into effect. This is a trade agreement that will benefit both countries. Currently, there is a trade volume of $2.4 billion between India and New Zealand. This is expected to increase to $7 billion by 2030. Exports from India to New Zealand have increased further. New Zealand is expected to invest $20 billion in India.
India-New Zealand trade pact effective from Oct 20; 100% goods to enter at zero duty - OrissaPOST
New Delhi: India’s free trade agreement with New Zealand will come into force 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 intro 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, professio…
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