GJEPC Trade Meet- Gears US Tariff Turbulence
Industry bests explore diplomatic & policy pathways GJEPC convened an exclusive trade meet in hybrid mode on 6th October at Bharat Diamond Bourse (BDB) to address the mounting challenges faced by India’s gems and jewellery industry due to US reciprocal tariffs and explore legal pathways to mitigate their impact. In his keynote address, Kirit Bhansali, Chairman, GJEPC, outlined the current state of affairs and potential solutions during these uncertain times. The meet, which was attended online and in-person by over 200 participants, highlighted worrying US export figures. India’s gems and jewellery exports to the US dropped by 34.39% during April-August 2025 compared to the same period last year, falling from $3.9 billion to $2.56 billion. Natural cut and polished diamonds were hit hardest, with exports plummeting by nearly 51% in value terms and 35% in volume. Meanwhile, overall exports to the world grew marginally by 2.93%, with significant ...