Rohit and Kohli, who became the first ever pairing to complete four double hundred partnerships in ODIs, were simply unstoppable against a bowling attack that looked pretty ordinary on the day.
Their spectacular showing also helped India comfortably beat the previous highest score at Green Park, 303 for five that South Africa had scored against them two years ago.
The destructive duo was in complete control ever since Shikhar Dhawan (14) departed in the seventh over and ended up with a record breaking 230-run stand off 211 balls.
The last time he played an ODI here, he made 150, and two years on, the stylish right-hander from Mumbai gave the packed crowd an afternoon to remember.
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There are not many prettier sights in cricket than watching Sharma bat in full flow.
And he did look in fine form, right from the time he slashed a gentle loosener from Tim Southee over point in the first over of the match.
The signs were ominous for the opposition when Sharma easily picked pacer Adam Milne for a huge six over midwicket.
He gave the same treatment to left-arm spinner Santner in his first over, collecting two boundaries with a cut and sweep before getting to his 50 off 52 balls.
Kohli, on his part, began with two crisp boundaries off Southee, one through the covers and the next one a whip over midwicket.
Sharma was finding the fence more frequently than Kohli as he hammered 18 fours to go with two maximums.
The two batsmen changed gears in the 36th over and the bowler at the receiving end this time was pacer Trent Boult, who leaked 17 runs in that over including four fours.
The next over saw them picking three fours off Grandhomme with the last one getting Kohli past the 9000-run mark in ODIs, making him the sixth Indian to do so and fastest to get there overall.
His remarkable feat brought a passionate fan into the field of play but before he could get close to his hero, the security officials took care of him. Kohlis innings comprised nine fours and six.
Hardik Pandya came out to bat at four ahead of Dinesh Karthik but fell cheaply. The next man, M S Dhoni, smashed three boundaries before mistiming one to be caught at short third-man.
The last 15 overs fetched 141 runs for the hosts. The most expensive bowler for New Zealand proved to be Boult, who leaked 81 runs in 10 overs - his worst figures in 50-over cricket.