Indian exporters in various sectors like agriculture, petroleum, pharma, apparel, electronics and auto have the potential not only to scale up shipments to New Zealand, but also help the island nation reduce its dependence on China.
According to think tank GTRI, in 2024-25, New Zealand imported goods worth over US $10 billion from China as compared to just US $711 million from New Delhi. Wellington's total imports in that fiscal year were US $50 billion. GTRI's report stated that opportunities exist for various Indian sectors to increase penetration in the island nation, given a bilateral free trade agreement.
The sectors with potential include processed foods and agri-linked products, petroleum products and industrial chemicals, pharmaceuticals and healthcare, plastics, rubber and consumer goods, textiles and apparel, electronics and electrical equipment, automobiles and transport equipment, aerospace and high-value manufacturing, furniture and lighting.
India is a significant global exporter of bakery products with exports of US $602 million worldwide. New Zealand imports around US $250 million of these goods annually, yet India supplies only US $6.5 million compared to US $21 million from China, the report said on Thursday.
The pattern repeats in food preparations also. India exports US $817 million globally, New Zealand imports US $455 million and India's share is just US $7.7 million.
In oil-cake and animal feed preparations, India's global exports range from US $382 million to US $507 million, and New Zealand's imports are US $340 million to US $379 million. "India's exports are negligible, between US $0.1 million and US $5 million, even though Chinese competition in these lines is minimal. This suggests an untapped market rather than one blocked by entrenched suppliers," GTRI founder Ajay Srivastava said.
Similarly, India is among the world's largest exporters of refined petroleum products, with global exports of US $69.2 billion. New Zealand imports around US $6.1 billion worth of these products each year, but sources only US $2.3 million from India, while China supplies US $181 million.
A similar gap, it said, exists in aluminium oxide. India exports more than US $1.1 billion globally, and New Zealand imports worth US $255 million. Yet, Indian exports to New Zealand amount to just US $0.2 million.
Likewise, there is a huge potential in tapping the woven apparel and pharma market, including medicines, biologicals and vaccines, where India is a leading exporter.
Furthermore, India's global exports of telecom equipment exceed US $21.7 billion. The island nation imports US $1.3 billion, but India supplies only US $7.6 million, while China exports stand at US $707 million. Transformers, batteries, switchgear and cables show similar gaps and so do the auto and auto parts sector, the GTRI said.
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