Jewelry stocks shine as US-India trade deal sparks tariff hopes
Jewelry brands like Kalyan Jewellers and Titan saw their stock prices pop after a joint statement laying out a framework for an interim US-India trade agreement announced the removal of duties on cut and polished natural diamonds and colored gemstones, while duties on finished jewelry were reduced but not eliminated and remain subject to MFN/additional duty treatments and contingent on the interim agreement being signed.
Kalyan soared nearly 15%, while others like Motisons and Vaibhav Global also rallied.
The tariff changes make cut and polished natural diamonds more competitive
The tariff changes—rather than a single cut from 50% to 25%—make cut and polished natural diamonds and colored gemstones more competitive while duties on finished jewelry are reduced but not eliminated in the huge US market, which could help reverse a big drop in diamond exports and protect jobs back home.
For anyone interested in business or investing, it's a reminder of how global deals can shake up entire industries.
Gold prices have been climbing, making investors even more upbeat
Besides the trade deal, gold prices have been climbing (up 16% already this year), making investors even more upbeat.
Big jewelry retailers are also stepping up—expanding stores, offering lab-grown diamonds, and rolling out lighter designs to attract younger shoppers and win over customers from smaller local shops.