The Gem & Jewellery Export Promotion Council (GJEPC) has welcomed the signing of the India–New Zealand Free Trade Agreement (FTA) on April 27, 2026, citing new export opportunities for the sector. India’s gem and jewellery exports to New Zealand currently stand at approximately $ 16.61 million. With zero-duty access under the agreement, exports are projected to reach nearly $ 50 million over the next three years.

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 $ 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.”

GJEPC noted that New Zealand’s high per capita jewellery consumption presents a viable market for Indian exporters. The agreement also offers a duty advantage over competing countries such as China and Thailand, which is expected to improve India’s competitiveness and market share. The FTA is expected to support exports across multiple categories, including gold, silver, platinum, studded, contemporary, couture, and fashion jewellery. Industry stakeholders anticipate improved market access will benefit manufacturers with diverse product capabilities.

The council stated that increased export activity could generate employment across key manufacturing hubs such as Gujarat, Maharashtra, Rajasthan, and West Bengal. The agreement also provides scope to leverage the Indian diaspora in New Zealand, expand retail presence through local partnerships, and strengthen long-term trade and investment engagement in the Oceania region. Recent Indian investments in New Zealand’s jewellery retail sector indicate growing bilateral interest, with the FTA expected to support sustained export growth and deeper economic ties.