Half Of NZ Businesses Now See India As A Top Growth Market – New Survey

New Zealand businesses are increasingly looking to India for growth, with more than half now ranking it among their top growth markets.

The NZ–India Business Momentum 2026 report found 51% of respondents strongly agree India is a top-3 growth priority, while 69% expect revenue growth from India-related activities in the next 12 months and no respondents expect a decline. 68% of respondents also said they feel more prepared to engage with India than they did a year ago.

The survey also found only 2% of businesses said they had never considered India as a market, showing how widely the opportunity is now being discussed across the New Zealand business community. More than 55% of respondents said they have exported goods or services to India in the past three years.

India is currently New Zealand’s twelfth largest export market and the fastest growing G20 economy. By 2030 it is expected to become the world’s third largest economy with a middle class of around 700 million people.

Auckland Business Chamber Chief Executive Simon Bridges said India is one of the great economic stories of our time and the results show how the conversation around the market has changed.

“For a long time the question was ‘Why India?’ That’s not the conversation anymore. The question now is how we help more New Zealand businesses succeed there, and how we do it faster and with less risk.”

“India is no longer a future option for New Zealand businesses. It’s a market we need to be engaging with now.”

Consul General of India in Auckland Dr Madan Mohan Sethi said the findings reflect the scale of opportunity for New Zealand businesses in India.

“India is one of the fastest growing major economies in the world and our states offer opportunities across sectors where New Zealand businesses are globally competitive, including food and agriculture, technology, education and advanced manufacturing. It is encouraging to see New Zealand businesses engaging more closely with the Indian market and building partnerships with Indian companies. This report shows there is strong potential to deepen business links between our two countries.”

“What this survey shows is that New Zealand businesses are not sitting on the sidelines,” Bridges said.

“They are building partnerships, investing time in the market, and working out how they can grow in India.”

Businesses are also approaching India state by state rather than treating it as a single market. Gujarat, Maharashtra, Delhi NCR and Tamil Nadu were the states most often identified by New Zealand businesses as priority locations.

However, 43% of respondents said they have low confidence in understanding the differences between Indian states, highlighting the need for better market knowledge and support.

At the same time, businesses say the market can be demanding. Respondents identified regulatory compliance, pricing pressure and partner reliability as the biggest risks when entering or expanding in India.

“India is a huge opportunity, but it is not a simple market,” Bridges said.

“Success there takes the right partners, the right approach and people on the ground who understand how the market works.”

Businesses also identified several changes that would make it easier to operate in India, including tariff relief, faster customs clearance, standards recognition, improved mobility and visa settings, and export credit and financing tools.

Bridges said closer coordination between government and industry will help more New Zealand businesses turn interest into commercial results.

“If New Zealand wants to make the most of the opportunity in India, we need to approach it as Team New Zealand. Business, government and our partners in India working together.”

Key findings from the survey include

• 51% say India is a top-three growth priority

• 69% expect revenue growth from India-related activities in the next 12 months and no respondents expect a decline

• 2% have never considered India

• 31% are currently considering India, 14% are planning entry, 16% are recently active and 23% have a long-term presence

• 55% have exported to India in the past three years

• 51% spent less than NZ$100k on India engagement over the past three years

• 45% express interest in co-innovation or R&D partnerships

The report, NZ–India Business Momentum 2026, was commissioned by the Auckland Business Chamber in partnership with the Consulate General of India in Auckland and Deloitte.

The findings are based on a national survey of 74 New Zealand businesses conducted in December 2025, targeting senior executives responsible for India market engagement across sectors including agrifood, manufacturing, services, technology and education.

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