US Tariffs Threaten India’s $32 Billion Gems & Jewellery Export Market

by Henry

The United States’ newly announced reciprocal tariffs are poised to disrupt India’s $32 billion gems and jewellery export sector, with potential consequences for trade flows and employment. The US is India’s largest market for these exports, accounting for $11.58 billion (34% of total exports).

Industry experts warn that higher levies could erode India’s competitive edge and create challenges for lakhs of workers in the sector.

India’s key jewellery exports to the US include:

Cut & polished diamonds – $5.6 billion

Studded gold jewellery – $2.55 billion

Plain gold jewellery – $267 million

Lab-grown diamonds – $831 million

Silver jewellery – $320 million

Among these, gold jewellery and diamonds—the primary drivers of India’s exports—face the biggest threat, said Adil Kotwal, President of the SEEPZ Gems & Jewellery Manufacturers’ Association (SGJMA).

The industry is now calling for government intervention to negotiate tariff relief and explore alternative markets to mitigate the impact.

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