Piyush Goyal flags off first 'Made in India' JCB export to New Zealand

Union Minister Piyush Goyal flagged off the first JCB machine export to New Zealand from Pune. The move precedes the India-New Zealand FTA, which JCB India's CEO says will boost exports to 140 countries and unlock new manufacturing opportunities.

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 development comes as JCB India expects its overall machinery exports to increase by 20 per cent to around 18,000 units in 2026, compared with approximately 15,000 units last year.

FTA Unlocks Manufacturing Opportunities

In a post on X, Goyal said, "New Zealand will now build with a 'Made in India' JCB machine!"

He added, "Proud to flag off the first-ever JCB machine export to New Zealand, made in Pune, Maharashtra." Highlighting the significance of the agreement for domestic manufacturing, the minister said, "The India-New Zealand FTA is unlocking new opportunities for our manufacturing."

JCB India's Global Export Strategy

Speaking to ANI, Deepak Shetty, Chief Executive Officer and Managing Director of JCB India, said the company has consistently focused on manufacturing machinery for both domestic and international markets. "Last year we exported around 15,000 machines, and this year we'll export around 18,000. We've consistently focused on making machines not just for the Indian market, but for the global market," Shetty said.

He highlighted that JCB India now exports machines to 140 countries, with exports accounting for around 25 per cent of its India-made production.

Significance of the New Zealand Market

On opportunities in New Zealand, Shetty said, "New Zealand is an advanced economy. Its per capita income is around $48,000, so a lot of our machines are used there. Not just for construction, but also in agriculture and material handling."

The India-New Zealand FTA, which comes into effect on Tuesday, will provide zero-duty access to 100 per cent of Indian exports to New Zealand, opening opportunities for Indian manufacturers, particularly in engineering goods.

Future Trade Prospects

Shetty also expressed optimism about the proposed India-US trade agreement, saying it could further expand opportunities for Indian-made machinery. "We're already selling to America, and we'll sell even more machines in the future once the trade agreement is finalised," he said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)