India-New Zealand FTA Comes Into Effect: CM Devendra Fadnavis Hails First 'Made In India' JCB Export, Calls It Milestone For Maharashtra

Mumbai: Maharashtra Chief Minister Devendra Fadnavis on Tuesday welcomed the implementation of the India-New Zealand Free Trade Agreement (FTA), describing the first export of a Pune-manufactured JCB machine to New Zealand as a significant milestone for Maharashtra's manufacturing sector.

His remarks came after Union Commerce and Industry Minister Piyush Goyal announced that the trade agreement had come into effect on October 20, on the auspicious day of Vijayadashami.

Fadnavis Hails Manufacturing Milestone

Taking to his X account, Fadnavis wrote, “Under the visionary leadership of Hon PM Narendra Modi Ji, the Make in India initiative is strengthening India’s manufacturing capabilities and expanding its global reach. The first-ever export of a JCB machine to New Zealand, manufactured in Pune, Maharashtra, marks a significant milestone for the state’s manufacturing sector.”

He further stated that the agreement would create fresh opportunities for Indian manufacturers and exporters.

“The India-New Zealand FTA is opening new avenues for Indian manufacturing, boosting exports and strengthening Maharashtra’s position as a global manufacturing hub,” Fadnavis wrote.

Piyush Goyal Announces FTA Implementation

Union Commerce and Industry Minister Piyush Goyal announced the implementation of the agreement on X.

“The India-New Zealand FTA comes into force today! A new chapter of opportunities begins!” Goyal wrote.

Highlighting the first shipment of construction equipment manufactured in Pune, Goyal said, “New Zealand will now build with a ‘Made in India’ JCB machine! Proud to flag off the first-ever JCB machine export to New Zealand, made in Pune, Maharashtra.”

Duty-Free Access For Indian Exports

The India-New Zealand FTA provides duty-free access for 100 per cent of Indian exports entering New Zealand, Mint reported.

The removal of tariffs is expected to improve the trade of Indian products in the New Zealand market and create additional opportunities for exporters across various sectors.

The agreement reportedly covers several categories of manufactured goods, including passenger vehicles, automobile components and engineering products.

Apart from facilitating trade in goods, the agreement is also expected to create new opportunities for Indian professionals seeking access to the New Zealand market.

Tariff Benefits For New Zealand

Under the agreement, New Zealand is also expected to benefit from tariff elimination or reductions covering approximately 95 per cent of its bilateral trade with India.

The agreement aims to increase trade flows, improve market access and provide greater certainty to businesses operating between the two countries.

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Published on: Tuesday, October 20, 2026, 06:33 PM IST