In a significant move to safeguard India’s gem and jewellery exports, a high-level delegation from the Gem & Jewellery Export Promotion Council (GJEPC) met with Shri Shaktikanta Das, Hon’ble Principal Secretary to the Prime Minister, to present critical recommendations concerning the impact of U.S. tariffs on the industry.
Led by Shri Kirit Bhansali, Chairman of GJEPC, the delegation sought immediate intervention from the Government of India to address tariff-related challenges under the proposed India–U.S. Bilateral Trade Agreement (BTA). The delegation included key industry representatives: Shri Shaunak Parikh (Vice Chairman, GJEPC), Shri Anoop Mehta (Co-Convener, Diamond Panel, GJEPC and President, Bharat Diamond Bourse), Shri Adil Kotwal (President, SGJMA), and Shri Sabyasachi Ray (Executive Director, GJEPC).
The Council emphasized the urgent need to include diamonds and coloured gemstones in Annexure II of the U.S. Government’s Ad Valorem Reciprocal Tariff Notification. This inclusion would help shield polished diamonds from rising duties that threaten India’s export competitiveness.
Furthermore, GJEPC proposed a cap on total import duties for jewellery entering the U.S. market at 10%, including all ad valorem charges. The Council also advocated for reciprocal duty concessions for gold and silver bullion imports into India, akin to benefits currently extended to the UAE under the Comprehensive Economic Partnership Agreement (CEPA).
In a reciprocal spirit, India is open to offering 6-10% duty concessions for jewellery imports from the U.S., aiming to create a more balanced and mutually beneficial tariff regime.
Stressing the urgency, GJEPC urged that relief measures for the gem and jewellery sector be prioritized under the Early Harvest component of the BTA, as the industry faces a narrow three-month window before reciprocal tariffs come into force—posing a risk of significant disruption.
Shri Shaktikanta Das assured the delegation that their concerns would be taken seriously and conveyed to the appropriate channels during ongoing deliberations with U.S. counterparts. His assurance has been received as a positive step toward safeguarding the future of India’s gem and jewellery exports amid growing global trade complexities.
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