US Supreme Court scraps Trump's tariffs on Indian jewelry
Business
Good news for India's gem and jewelry sector: the US Supreme Court just scrapped some heavy tariffs tied to President Donald Trump's unilateral tariff.
With duties dropping from 18% to 10%, Indian diamonds, gemstones, and jewelry are set to become more affordable and competitive in the US market.
Experts say the tariff cut will help boost exports
Even with a slight dip the first 10 months of this fiscal—exports hit $23.19 billion—India saw big growth in sales to the UAE and Hong Kong.
Colin Shah from Kama Jewelry says the US Supreme Court verdict 'will address the demand supply vacuum' caused by tariffs, and that exporters face cost pressures and must be astute in planning.
The tariff cut also helps textiles, opening up better trade opportunities for both industries.