As per the think tank GTRI, in 2024-25, New Zealand’s imports from China surpassed $10 billion, while imports from New Delhi were merely $711 million. The total imports for Wellington in that fiscal year amounted to $50 billion.
GTRI’s report highlighted that various sectors have the potential to enhance their presence in New Zealand, especially with a bilateral free trade agreement in place.
Key sectors include processed foods and agricultural products, petroleum products and industrial chemicals, pharmaceuticals and healthcare, plastics, rubber and consumer goods, textiles and apparel, electronics and electrical equipment, automobiles and transport vehicles, aerospace and high-value manufacturing, furniture, and lighting.
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India is a leading global exporter of bakery items, with worldwide exports reaching $602 million. New Zealand typically imports about $250 million of these goods annually, yet India contributes only $6.5 million compared to $21 million from China, according to the report released on Thursday.
A similar trend is seen with food preparations. India’s global exports total $817 million, New Zealand’s imports stand at $455 million, with India’s share being just $7.7 million.
In oil-cake and animal feed products, India’s global exports are between $382 million and $507 million, while New Zealand’s imports range from $340 million to $379 million.
”India’s exports remain minimal, between $0.1 million and $5 million, despite limited Chinese competition in these areas. This indicates an unexplored market rather than one dominated by established suppliers,” said GTRI founder Ajay Srivastava.
Moreover, India ranks among the world’s top exporters of refined petroleum products, with total global exports of $69.2 billion.
New Zealand imports around $6.1 billion worth of these products each year, but sources only $2.3 million from India, while China accounts for $181 million.
A similar disparity exists in aluminium oxide, where India exports over $1.1 billion globally, while New Zealand imports worth $255 million. Yet, Indian exports to New Zealand are merely $0.2 million.
In the pharmaceutical sector, India’s export strength is most evident in medicines, with global exports totaling $20.6 billion.
New Zealand imports nearly $962 million worth of medicines, but India supplies only $75 million, compared to China’s $9.6 million in this category.
For biological products and vaccines, India’s global exports are $1.6 billion, whereas New Zealand imports $328 million. India’s exports to New Zealand are limited to $5.2 million, indicating significant under-penetration, according to Srivastava.
”In women’s woven apparel, India’s global exports reach $3 billion. New Zealand imports $179 million, but India provides only $9.8 million, while China accounts for $112 million, despite India’s strong competitiveness in this sector,” he added.
Furthermore, India’s global exports of telecom equipment exceed $21.7 billion, with New Zealand importing $1.3 billion; however, India supplies just $7.6 million, while China’s exports are $707 million.
”Transformers, batteries, switchgear, and cables exhibit similar discrepancies: Indian global exports of $1-3 billion, New Zealand imports from $175 million to $300 million, with minimal Indian participation,” GTRI noted.
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In the automotive sector, India’s global exports of passenger vehicles stand at $6.9 billion, while New Zealand imports $3.1 billion. India contributes just $26.6 million compared to $261 million from China.
In auto parts, India’s global exports surpass $7.4 billion, yet shipments to New Zealand are only $2.9 million, compared to $69.5 million from China.
He emphasized that for India, the next step is to effectively pair the FTA with targeted export promotion, standards cooperation, regulatory facilitation, and logistics support.
