New Delhi, Oct. 19 -- India on Monday flagged off its first export consignment to New Zealand under the bilateral free trade agreement (FTA), with a JCB mini excavator manufactured in Maharashtra marking the start of preferential market access for Indian goods. The agreement, which comes into force on Tuesday, will provide Indian engineering products with zero-duty access to the New Zealand market.
Commerce and Industry Minister Piyush Goyal flagged off the shipment, describing the agreement as an opportunity to expand commercial ties and create benefits across different sections of society. The consignment comprises a JCB-18Z mini excavator, a company executive present at the event said.
Under the agreement, New Zealand has agreed to pro...