NZ is the team which has the habit of losing in the semi finals, and I am sure India will easily make it to the finals. The real battle will be between India, Australia and South Africa for the title.
During the last world cup (in 2019), they won the semi-final and almost won the final as well. So you should not underestimate New Zealand. And Indians do have a habit of performing very well in the group phase and then losing the knockout matches. So even at this point, there are no clear favorites. India do have the home advantage as well as momentum, so they may be considered as the team that is most probable to be crowned as the champions. But at the same time, you can't write off the other three teams. Each of them have their own positives.