Notably, Hardik had also led India earlier this year, during the two T20Is in Ireland.
Resuming the day at 221 for four, India scored 64 runs in the morning session with the loss of two wickets.
Earlier on Friday, Shreyas Iyer had struck a century on debut in India making 345. But a five-wicket haul by Tim Southee followed by half-centuries by openers Will Young and Tom Latham helped New Zealand sit on top at the end of day two.
After Wriddhiman Saha nicked behind to keeper Tom Blundell off Southee in the 93rd over, Ravichandran Ashwin took consecutive boundaries off him.
Iyer scored 105 off 171 balls, striking 13 fours and a couple of sixes during his brilliant effort.
On a truncated day when six overs were lost to bad light, Iyer and Jadeja joined forces for an unbeaten 113-run stand after Kyle Jamieson and Tim Southee had reduced India to 145/4 in 49.2 overs in the second session after Shubman Gill had given the hosts a good start while scoring his third half-century.
New Zealand skipper Kane Williamson said he would have also elected to bat first if he had won the toss
In first-class cricket, Iyer has scored 4,592 runs in 54 matches at an average of 52.18, including 12 centuries and 23 half-centuries.
Tim Seifert (17) and Lockie Ferguson (14) also chipped in with the bat for the Kiwis but it wasn't enough to save them from a huge loss. Axar Patel (3/9) was the most successful bowler for India.
The new-look team also has IPL's highest run-getter Ruturaj Gaikwad and top wicket-taker Harshal Patel in the squad of 16 along with Venkatesh Iyer, who is seen as a potential all-round replacement for the injury-ravaged Hardik Pandya.
Indian skipper Virat Kohli has also expressed his dissatisfaction over the dew factor against Pakistan following the problems they faced on the ground.
BCCI wanted Dravid, who is the coach of the Indian junior teams, to take up the job full time but Dravid has declined as he does not want to travel too much.
Hamilton: A confident India will aim to maintain their winning streak when they take on hosts New Zealand in the fourth contest of the five-match rubber at the Seddon Park here on Thursday. The Indian team has already taken an unassailable 3-0 lead and will now be led by stand-in skipper Rohit Sharma as Virat […]
India's revered superstars failed to dazzle on the 'D-Day' as New Zealand's canny operators and their classy skipper Kane Williamson deservingly walked away with the inaugural World Test Championship title after a composed eight-wicket win in the final that exposed multiple frailties in Virat Kohli's team.
India skipper Virat Kohli said on Friday that the World Test Championship (WTC) final was "just another feather to add in this big hat that we have created" and that there were many more milestones to come.
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