The Gem & Jewellery Export Promotion Council (GJEPC) called the India–New Zealand Free Trade Agreement (FTA) on 27 April 2026, a timely and strategic step that opens a potential market for Indian gem and jewellery exporters.
India’s current gem and jewellery exports to New Zealand stand at approximately $16.61 million. With zero-duty access secured under the agreement, exports are expected to grow to nearly $50 million over the next three years.
Kirit Bhansali, Chairman, GJEPC, said in a statement, “In today’s turbulent global environment, India’s continued progress in advancing and concluding FTAs is enabling the industry to strategically diversify its export markets and reduce overdependence on any single geography such as the US or regions like the GCC. The India–New Zealand FTA, following the Australia agreement, is a timely step in this direction. India’s gems and jewellery exports to New Zealand currently stand at around $16.61 million, and with zero-duty access under the agreement, we expect this to grow to nearly $50 million over the next three years.
New Zealand, with its high per capita jewellery consumption trends, brings new opportunities for Indian exporters. The agreement also provides a clear duty advantage over key competitors such as China and Thailand, enhancing competitiveness and enabling expansion of market share. Along with Australia and Fiji, New Zealand in Oceania presents a compelling avenue for diversification.
Importantly, this FTA is not just an export opportunity, but also a platform for deeper economic engagement and investment, supporting a more balanced and resilient growth trajectory for the sector.”
The agreement offers a clear duty advantage over competitors such as China and Thailand, which is expected to strengthen India’s competitiveness and improve market share across gold, silver, platinum, studded, contemporary, couture, and fashion jewellery segments.
The FTA also creates opportunities to leverage the Indian diaspora in New Zealand, expand retail presence through local partnerships, and deepen long-term trade and investment engagement in the Oceania region.
Source Name : Economic Times