The Gem and Jewellery Export Promotion Council (GJEPC) has expressed optimism regarding the newly signed India-New Zealand Free Trade Agreement (FTA), which is expected to significantly enhance India's gem and jewellery exports. Currently valued at $16.61 million, exports are projected to increase to nearly $50 million over the next three years due to the zero-duty access provided by the agreement. GJEPC Chairman Kirit Bhansali emphasized that this strategic move allows India to diversify its export markets and reduce reliance on traditional markets like the United States and the Gulf Cooperation Council (GCC) region. The FTA not only provides a competitive edge over key rivals such as China and Thailand but also opens avenues for local partnerships and leveraging the Indian diaspora in New Zealand. Furthermore, recent investments by Indian companies in New Zealand's jewellery retail sector indicate strong potential for long-term trade relations and economic ties between the two nations.