By Mr. Kirit Bhansali, Chairman, GJEPC
“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.”
