The hosts had progressed unbeaten through the tournament, but stumbled at the last hurdle.
Who will advance to face India in the final?
"We can be quite proud of the effort that's gone into getting to where we are."
Reports of a doctored wicket to suit India did not eventuate in Mumbai.
The hosts will now meet Australia or South Africa in tournament decider.
Scott Styris believes New Zealand are well placed for an upset at Mumbai on Wednesday.
The NZ skipper has complete faith his side can repeat their dose from 2019 in their World Cup semi-final rematch.
The 23-year-old has shone on the Blackcaps' run to the semi-finals.
The 32-year-old has reached at least the semi-finals of every global tournament he's played in as a Blackcap.
