The Blackcaps will face India for a place in the Cricket World Cup final at Old Trafford in Manchester on Tuesday (NZ time).
New Zealand looked destined to meet Australia in the semi-finals, but the defending champion slumped to a shock 10-run defeat to South Africa in their final round-robin match on Sunday, meaning they finish second in the standings.
Earlier, Indian vaulted into top spot on the ladder for the first time all tournament after beating Sri Lanka by seven wickets.
But if Australia beat South Africa they would've remained top spot, setting up a trans-Tasman showdown and a repeat of the 2015 World Cup final.
Instead, the Blackcaps will face India in a World Cup match for the time since 2003, while Australia face England in the other semi-final at Edgbaston, Birmingham on Thursday.
Indian fans will be breathing a sigh of relief as England were the only team to beat them during the group stages.
New Zealand were scheduled to face India at Trent Bridge earlier in the tournament, but the match was abandoned without a ball being bowled due to rain.
Cricket World Cup semi-finals:
India v New Zealand at Old Trafford, Manchester, Tuesday 9.30pm (NZ time)
Australia v England at Edgbaston, Birmingham, Thursday 9.30pm (NZ time)
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