“New Zealand will now build with a 'Made in India' JCB machine!” Goyal wrote in a post on X.
“Proud to flag off the first-ever JCB machine export to New Zealand, made in Pune, Maharashtra,” he added.
The export comes as the India-New Zealand Free Trade Agreement (FTA) is set to come into force on the occasion of Vijayadashami. The agreement is expected to open up new opportunities for Indian manufacturers and exporters.
100% of Indian exports to get duty-free access
The FTA will provide duty-free access for 100% of Indian exports to New Zealand, according to the minister.
“With duty-free access for 100% of Indian exports to New Zealand, the FTA will unlock significant opportunities for MSMEs, farmers, women, youth & labour-intensive sectors,” he 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. The #IndiaNewZealandFTA is unlocking new opportunities for our manufacturing. 🇮🇳🇳🇿 @ShelarAshish @JitinPrasada https://t.co/gsJKncA6DV
— Piyush Goyal (@PiyushGoyal) October 19, 2026
The agreement will also create new pathways for Indian professionals while protecting India's core interests.
Indian farmers are expected to gain wider market access for fruits, vegetables, spices and other agricultural products. The two countries will also cooperate to improve productivity, support higher incomes and strengthen livelihoods.
Tomorrow, on the auspicious occasion of Vijayadashami, India & New Zealand will begin a new chapter in their economic partnership as the #IndiaNewZealandFTA comes into force. Truly a 'Vijay' for both nations! 🇮🇳🇳🇿 Partnerships of this significance are built on strong leadership & a shared commitment to turning aspirations into opportunities. The vision of PM @NarendraModi ji & New Zealand PM Mr. @ChrisLuxonMP has made this historic agreement possible, opening new avenues for our people to grow & prosper together. I thank my friend, New Zealand Trade Minister Mr. @ToddMcClayMP, & the negotiating teams of both countries for their sustained efforts. From the launch of negotiations in March last year to entry into force tomorrow, this journey reflects mutual trust & a commitment to delivering a balanced, mutually beneficial agreement. With duty-free access for 100% of Indian exports to New Zealand, the FTA will unlock significant opportunities for MSMEs, farmers, women, youth & labour-intensive sectors. It also opens new pathways for our professionals, while safeguarding India's core interests. Our farmers will gain wider market access for fruits, vegetables, spices & other agricultural produce, alongside cooperation to improve productivity, support higher incomes & strengthen livelihoods. Sensitive sectors, including dairy, remain protected, keeping farmers' welfare at the heart of our approach. New Zealand's commitment to facilitate USD 20 billion in investment into India holds immense potential to strengthen manufacturing, infrastructure, services & innovation, supporting enterprise & employment. As we embark on this promising journey tomorrow, I extend my best wishes to our exporters, businesses, MSMEs & entrepreneurs. I encourage them to make full use of this agreement, build lasting partnerships & translate its potential into tangible gains for our people. Confident that this win-win partnership will achieve many more milestones, guided by our shared vision of growth & mutual prosperity.
— Piyush Goyal (@PiyushGoyal) October 19, 2026
Sensitive sectors, including dairy, will remain protected.
New Zealand commits to facilitate USD 20 billion investment
New Zealand has also committed to facilitate USD 20 billion in investment into India.
The investment has the potential to strengthen manufacturing, infrastructure, services and innovation while supporting enterprise and employment, according to the minister.
The agreement follows negotiations that began in March last year. He credited the leadership of Prime Minister Narendra Modi and New Zealand Prime Minister Chris Luxon for making the agreement possible.
“The vision of PM Narendra Modi ji & New Zealand PM Mr. Chris Luxon has made this historic agreement possible, opening new avenues for our people to grow & prosper together,” he said.
He also thanked New Zealand Trade Minister Todd McClay and the negotiating teams of both countries for their efforts.
The minister urged Indian exporters, businesses, MSMEs and entrepreneurs to make full use of the agreement, build lasting partnerships and turn its potential into tangible gains.