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US imposes 50% tariff on Indian gems, jewelry: Impact
The US has imposed a 50% tariff on gems and jewelry from India, which could seriously hurt the industry and cost a lot of jobs.
Since the US buys about a third of India's gem exports—over $10 billion—the impact could be huge.
The Gem and Jewelry Export Promotion Council (GJEPC) is urging the government to step in quickly to help protect workers and keep India's spot in the global market.
Exporters seek relief measures
Exporters are asking for relief measures like a Duty Drawback scheme from August to December 2025, plus a six-month break on working capital interest payments—similar to what was done during COVID-19.
There's also worry that trade might shift through countries with lower tariffs, like Canada, making things even tougher for local businesses.