Put in to bat, New Zealand struggled to build on the century opening stand between Tim Seifert (62) and Devon Conway (44) but still posted a commanding 215-7.
The tourists then returned to bowl out India for 165 in 18.4 overs despite Shivam Dube's belligerent 65 off 23 balls that included seven sixes.
India lead the series 3-1 ahead of Saturday's final match in Thiruvananthapuram.
Earlier, New Zealand got off to a blazing start with Seifert and Conway combining in an opening stand of 100 to lay the foundation for a big total.
Spinner Kuldeep Yadav dismissed Conway in the ninth over to break the century stand as India clawed their way back into the contest with a flurry of wickets.
Jasprit Bumrah took a return catch to send back Rachin Ravindra in the next over and Arshdeep Singh ended Seifert's 36-ball blitz, which contained three sixes.
Kuldeep also claimed the wicket of Glenn Phillips (24) but Daryl Mitchell smashed 39 not out from 18 balls as New Zealand managed to make hay in the death overs to power past the 200-mark.
Having taken an unassailable 3-0 lead, India rested top-order batter Ishan Kishan, who sustained a niggle in their victory in Guwahati, and their rejigged batting order was immediately under pressure.
Their in-form opener Abhishek Sharma, currently the top-ranked T20 batter, fell for a first-ball duck to Matt Henry while skipper Suryakumar Yadav (eight) did not last long either.
A promoted Rinku Singh made 39, but wickets kept tumbling with New Zealand captain Mitchell Santner claiming 3-26.
Dube kept India in the hunt but his run-out, when Harshit Rana's drive was deflected onto the stumps at the non-striker's end by bowler Henry in his follow-through, effectively sealed India's fate.