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US imposes 50% import duty on Indian gems, jewelry
The US has imposed a hefty 50% import duty on Indian gems and jewelry.
This is a big deal for India's $10 billion annual exports to the US—about a third of its total global sales in this sector.
Indian exporters eye alternative markets
With these new tariffs, Indian exporters are eyeing markets in West Asia, Europe, and the UK or even shifting production to countries like the UAE or Mexico where duties are lower.
But moving operations isn't easy—it means higher costs and more paperwork.