Kane Williamson to captain both the teams.
New Zealand and India will play three T20Is and three ODIs starting November 18.
Opener Guptill has been dropped to accommodate rising star Finn Allen while New Zealand Cricket (NZC) decided to give others an opportunity in the six-match series ahead of Boult, who has opted out of a central contract with the board.
Allen is primed to face India for the first time after being confirmed in both New Zealand squads for the series. Thus far the 23-year-old has played 23 T20s and eight ODIs, amassing five half-centuries and a hundred.
Tim Southee, Matt Henry (ODIs only), Lockie Ferguson, Blair Tickner, and Adam Milne form the pace attack. Milne is primed for his first ODI appearance since 2017.
Tom Latham returns as the ODI wicket-keeper with Devon Conway continuing behind the stumps for the T20 side.
NZ v IND 2022: BCCI announces Team India squads for white-ball tour of New Zealand
Head coach Gary Stead said it was never easy leaving out the experience of Boult and Guptill but the team had to keep looking ahead.
“When Trent opted out of his NZC contract in August, we indicated that priority would be given to those players with either central or domestic contracts, and that's been the case here. We're all aware of Trent's world-class ability, but at this time - as we build towards more global events, we want to give opportunities and experiences to others.
The emergence and success of Finn at the top of the order in white-ball cricket means a guy of the class of Martin Guptill misses out – that's just the nature of high-performance sport." Coach Gary Stead said in a statement.
“With the 50-over World Cup less than a year away we're keen to give Finn every opportunity to keep gaining ODI experience, especially against quality opposition such as India. The message to both those players (Boult and Guptill) is that there's a lot of international cricket ahead and the door is certainly not closed to them,” said Stead.
The tour begins with a three-game T20 International series across Wellington (Nov 18), Tauranga (Nov 20), and Napier (Nov 22), before moving into the ODI series across Auckland (Nov 25), Hamilton (Nov 27) and Christchurch (Nov 30).
All-rounder Jimmy Neesham will miss the third ODI as he prepares for his wedding, with Henry Nicholls replacing him. Ben Sears (back) and Kyle Jamieson (back) were not considered for selection due to injuries.
Stead said it was always a special time having India in the country and that the matches will be exciting both for players and fans alike.
“There's always an incredible buzz when India come to town. The energy and noise is incredible and I know the team are really looking forward to getting back and playing in front of some big home crowds. India are a world-class side stacked with stars and we know we'll have to be right at the top of our game,” he said.
New Zealand T20I squad:
Kane Williamson (C), Finn Allen, Michael Bracewell, Devon Conway (WK), Lockie Ferguson, Daryl Mitchell, Adam Milne, Jimmy Neesham, Glenn Phillips, Mitchell Santner, Tim Southee, Ish Sodhi, Blair Tickner
New Zealand ODI squad:
Kane Williamson (C), Finn Allen, Michael Bracewell, Devon Conway, Lockie Ferguson, Daryl Mitchell, Adam Milne, Jimmy Neesham, Glenn Phillips, Mitchell Santner, Tim Southee, Tom Latham (WK), Matt Henry
(PTI inputs)