India Under-Represented In New Zealand Market FTA Expected To Unlock Export Opportunities: GTRI

(MENAFN- KNN India) New Delhi, Dec 24 (KNN) India's exports to New Zealand remain modest despite its global export strength, while China dominates New Zealand's import basket, according to a report by the Global Trade Research Initiative (GTRI).

In FY2025, New Zealand imported over USD 10 billion worth of goods from China, compared with just USD 711 million from India, out of total imports of USD 50 billion.

FTA Opportunities Across Key Sectors

According to the report,“India remains under-represented in many products where it is a major global exporter and New Zealand is a large importer.” Such products include processed foods, pharmaceuticals, machinery, electronics, vehicles, aerospace, and furniture, reported ANI.

The recently concluded India-New Zealand Free Trade Agreement (FTA) is expected to open new export opportunities and help bridge this trade gap.

Large Gaps in Processed Foods and Pharmaceuticals

Trade data highlights significant under-penetration in processed food exports.

While India's global bakery exports stand at USD 602 million, shipments to New Zealand total just USD 6.5 million. Similarly, food preparations worth USD 817 million are exported globally, but only USD 7.7 million reach New Zealand.

Pharmaceuticals also present substantial potential. New Zealand imports USD 962 million worth of medicines, but India contributes only USD 75 million, despite its global competitiveness in the sector.

Export Growth Potential

Analysis of CY2024 trade data indicates multiple products where India's global export capacity far exceeds its current market share in New Zealand.

This under-representation reflects untapped potential rather than capability constraints.

GTRI concluded that while the FTA has been signed, effective implementation will be critical to transforming the modest bilateral trade relationship into a more diversified and deeper economic partnership, unlocking significant export growth opportunities for India.

(KNN Bureau)

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