The Gem & Jewellery Export Promotion Council (GJEPC) has hailed the India-New Zealand Free Trade Agreement (FTA), effective from April 27, 2026, as a pivotal opportunity for Indian gem and jewellery exporters. Currently, India's exports to New Zealand are around $16.61 million, but with the FTA's zero-duty access, GJEPC forecasts this figure could soar to nearly $50 million over the next three years. Kirit Bhansali, Chairman of GJEPC, emphasized that the agreement enables strategic diversification of export markets, reducing reliance on traditional markets like the United States and the Gulf Cooperation Council (GCC) regions. New Zealand's high per capita jewellery consumption presents new avenues for Indian exporters, while the FTA offers a competitive edge over major rivals such as China and Thailand. Additionally, the agreement is expected to facilitate deeper economic ties and investment opportunities in the Oceania region, leveraging the Indian diaspora and expanding retail partnerships.