GJEPC eyes 200% export growth after India–New Zealand FTA

Mumbai | Maharashtra — India’s gem and jewellery sector is preparing for a major export surge after the signing of the India–New Zealand Free Trade Agreement (FTA) on April 27, 2026. Calling the pact a strategic breakthrough, the Gem & Jewellery Export Promotion Council (GJEPC) said the agreement could triple exports to New Zealand from the current USD 16.61 million to nearly USD 50 million within the next three years.

The industry views the deal as a crucial step toward diversifying global markets at a time of economic uncertainty and shifting trade dynamics.

Zero-duty access opens high-potential market

The FTA grants Indian jewellery exporters zero-duty access to the New Zealand market, providing a significant competitive advantage. Industry leaders say this move will allow Indian products to compete more effectively against rivals from China and Thailand.

Kirit Bhansali, Chairman of GJEPC, described the agreement as a “timely and strategic step” for the sector.

“In today’s turbulent global environment, India’s continued progress in concluding FTAs is helping the industry diversify export markets and reduce dependence on any single geography such as the US or the GCC region,” he said.

He added that New Zealand’s high per capita jewellery consumption makes it a promising destination for Indian exporters.

Diversification strategy gains momentum

The FTA follows similar agreements with Australia and growing trade ties with Fiji, positioning Oceania as an emerging hub for India’s jewellery exports.

Industry experts say the deal will strengthen India’s presence across multiple segments including gold, silver, platinum, studded, couture and fashion jewellery.

Bhansali noted, “New Zealand presents a compelling opportunity for market diversification and long-term investment engagement.”

Jobs and investments expected across manufacturing hubs

The expected export growth is likely to generate employment and investment across major jewellery manufacturing centres such as Gujarat, Maharashtra, Rajasthan and West Bengal.

Improved market access and expanding retail partnerships in New Zealand are also expected to benefit Indian businesses looking to tap into the Indian diaspora and growing consumer demand.

Strengthening long-term bilateral ties

The agreement is being seen not just as an export opportunity but as a gateway for deeper economic engagement. Recent Indian investments in New Zealand’s jewellery retail sector signal strong long-term potential for trade and collaboration.