Key Highlights
- India-New Zealand FTA gives Indian gem and jewellery exports zero-duty access to New Zealand.
- GJEPC projects exports to grow from USD 16.61 million to USD 50 million in three years.
- An agreement could drive 200% export growth and improve competitiveness over China and Thailand.
- FTA opens opportunities across gold, silver, platinum and studded jewellery segments.
- GJEPC says the pact supports export diversification and reduced market dependence.
- The agreement may boost employment and strengthen India’s long-term trade footprint in Oceania.
India’s gem and jewellery sector is poised to gain fresh export momentum following the signing of the India–New Zealand Free Trade Agreement (FTA), with the Gem & Jewellery Export Promotion Council (GJEPC) projecting a nearly 200% rise in exports to USD 50 million over the next three years, up from the current USD 16.61 million.
Welcoming the agreement signed on 27 April 2026, GJEPC described the FTA as a strategic development that supports market diversification while expanding India’s presence in high-potential export destinations.
With zero-duty access secured under the agreement, the Council believes Indian exporters are well-positioned to strengthen competitiveness in the New Zealand market across gold, silver, platinum, studded, contemporary, couture and fashion jewellery categories. The pact is also expected to provide a duty advantage over competing suppliers such as China and Thailand.
Mr. Kirit Bhansali, Chairman, GJEPC, said:
“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 USD 16.61 million, and with zero-duty access under the agreement, we expect this to grow to nearly USD 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.”
Industry stakeholders see the agreement as extending beyond tariff benefits, with potential to deepen trade engagement in the Oceania region through stronger retail partnerships, diaspora-led opportunities and long-term investment collaboration.
The FTA is also expected to support employment generation across major jewellery manufacturing hubs, including Gujarat, Maharashtra, Rajasthan and West Bengal, leveraging India’s production strength across multiple categories. Recent Indian investments in New Zealand’s jewellery retail segment further reinforce long-term growth potential, adding another dimension to bilateral trade ties.
For India’s gem and jewellery sector, the agreement adds to a broader strategy of export market diversification, while strengthening resilience amid evolving global trade dynamics.
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