New Delhi [India], December 24 (ANI): China currently dominates New Zealand's import basket, accounting for over USD 10 billion of the country's imports, while India's exports remain relatively small at just USD 711 million in FY2025, despite India being a major global exporter across several product categories, according to a report by the Global Trade Research Initiative (GTRI).

The report noted that India remains under-represented in New Zealand's market, and said the recently concluded India-New Zealand Free Trade Agreement (FTA) could play a crucial role in bridging this gap by opening export opportunities in sectors such as processed foods, pharmaceuticals, machinery, electronics, vehicles, aerospace and furniture.

It stated 'India remains under-represented in many products where it is a major global exporter and New Zealand is a large importer. In FY2025, New Zealand imported just USD 711 million from India, against USD 50 billion in total imports and USD 10 billion+ from China'.

The report highlighted that these sectors are expected to emerge as prime FTA-driven growth areas, as trade data clearly shows a large gap between India's global export strength and its limited presence in New Zealand's market.

Despite being a major global exporter in several product categories, India's exports to New Zealand remain modest.

The GTRI analysis showed particularly large gaps in processed food exports. While India's global exports of bakery products stand at USD 602 million, exports to New Zealand are limited to just USD 6.5 million.

Similarly, India exports USD 817 million worth of food preparations globally, but shipments to New Zealand amount to only USD 7.7 million. These figures highlight clear opportunities for Indian exporters under the FTA framework.

Pharmaceuticals also stand out as a key opportunity area. New Zealand imports USD 962 million worth of medicines, yet India supplies only USD 75 million, despite its strong global competitiveness in the pharma sector.

According to the report, this gap reflects under-representation rather than lack of capability, suggesting that the FTA can play a crucial role in bridging this divide.

An analysis of CY2024 trade data, using a simple filter of India's global exports above USD 200 million and New Zealand's imports above USD 150 million, identified multiple products where India's export capacity far exceeds its current market share in New Zealand.

This under-penetration highlights clear export growth opportunities across several sectors.

The report noted that while the FTA has been concluded, most of the benefits are still to come. If implemented effectively, the India-New Zealand FTA could help bridge the existing trade gap and transform a modest bilateral trade relationship into a deeper and more diversified economic partnership, the report added. (ANI)