GJ Town India

  U.S. tariffs continue to strain India’s gem & jewellery sector   Refer Update1: https://gjtownindia.blogspot.com/2025/09/gjepc-leadership-meets-fm-to-seek-relief.html     Update 2: The Gem & Jewellery Export Promotion Council (GJEPC) leadership, led by Chairman Kirit Bhansali, along with Vice Chairman Shaunak Parikh and Executive Director Sabyasachi Ray, met the Hon’ble Minister of Finance and Corporate Affairs Nirmala Sitharaman today to seek urgent relief measures for the gem and jewellery sector, which has been severely impacted by the recent 50% tariff imposed by the United States.    Speaking after the meeting, Bhansali said, "We are pleased that India–U.S. trade discussions have resumed, which is encouraging news. However, the process may take time, and until a resolution is achieved, it is essential to introduce relief measures to help the sector survive and sustain employment.    We have requested allowing SEZ un...

  Gazing impact of US reciprocal tariffs on Indian G&J exports   The US announcement of a sweeping 50% tariff on all Indian goods is a deeply concerning development. This move would have far-reaching repercussions across India’s economy—disrupting critical supply chains, stalling exports, and threatening thousands of livelihoods.   The Indian gem and jewellery sector, in particular, stands to be severely impacted. The United States is our single largest market, accounting for over $10 billion in exports—nearly 30% of our industry’s total global trade. A blanket tariff of this magnitude is severely devastating for the sector.   There is significant dependency on the US market, as 85% of exports from SEEPZ SEZ, which provides 50,000 jobs, is directed there. For cut and polished diamonds, half of India’s exports are US-bound. With revised tariff hike, the entire industry may come to a standstill, placing immense pressure on every part of the value chain—...

  CAR benefited from the lifting of the ban on its diamond exports   Central African Republic [CAR] says ready to give Russian companies access to diamond projects the African minister said the Central African Republic benefited from the lifting of the ban on its diamond exports. The Central African Republic is ready to invite Russian companies to join projects in diamond production, CAR Trade and Industry, Minister Thierry Patrick Akoloza told official Russian media following a visit to Russia.   He answered in the affirmative to a question of whether the central African country is willing to open its doors in this sphere to Russian mining companies, including diamond miners.  The African minister said the Central African Republic benefited from the lifting of the ban on its diamond exports. "Because, without the sanctions, the country has the opportunity to develop and earn good dividends from being able to sell our mineral resources," he emphasized. ...

American consumers shouldn’t be caught in the crosshairs! The National Retail Federation urged the Office of the U.S. Trade Representative to avoid 25 percent tariffs on $300 billion in Chinese goods and released a new study examining key product categories and the negative impact on American consumers. “We support efforts to achieve better trade deals, but American consumers shouldn’t be caught in the crosshairs,” NRF Senior Vice President of Government Relations David French said during testimony prepared for a USTR hearing this afternoon. “It’s time to re-evaluate a strategy based solely on tariffs and work with our allies to put international pressure on China.” “For most of the consumer products on this list, there are very few alternative sources of supply,” French added. “It would be impossible for all market participants in our industry to simultaneously move sourcing to other countries. The capacity does not exist … In the short term, retailers would be fo...

Far too great a gamble for the U.S. economy The National Retail Federation (NRF) issued the following statement from President and CEO Matthew Shay after the Trump administration released a list of $300 billion of Chinese goods that will be targeted by additional tariffs of 25 percent. “We support the administration’s efforts to deliver a meaningful trade agreement that levels the playing field for American businesses and workers. But the latest tariff escalation is far too great a gamble for the U.S. economy. Slapping tariffs on everything U.S. companies import from China – goods that support U.S. manufacturing and provide consumers with affordable products – will jeopardize American jobs and increase costs for consumers. “Taxing Americans on everyday products like clothes and shoes is not the answer for holding China accountable. Working with our allies who share the same concerns and immediately rejoining TPP are more effective ways to put pressure on China with...