US Tariffs Shake Indian Gems & Jewellery Trade: A Deep Dive

The US's imposition of 27% tariffs on Indian gems and jewellery poses significant challenges for India's export sector. Industry leaders urge the Indian government to address this through strategic trade agreements. These tariffs could reshape global supply chains and impact job security within the Indian industry.

The United States' announcement of 27% retaliatory tariffs on Indian gems and jewellery exports has sparked concern among industry leaders in India, including the Gem and Jewellery Export Promotion Council (GJEPC). Industry representatives are pressing the Indian government to negotiate a bilateral trade agreement to mitigate the looming crisis.

The tariffs come as part of the US administration's broader strategy to counteract India's high import duties on American goods. This move is expected to strain the USD 10 billion export volume of Indian jewellery to the US market, potentially reshaping global supply chains and threatening job security within India.

Experts warn that the retaliatory tariffs could alter the competitive landscape of the global jewellery market, as the US remains a major importer of India's diamond, gold, and platinum products. The Indian gems and jewellery sector, already facing technological and economic shifts, prepares to navigate this unprecedented challenge.

(With inputs from agencies.)