GJ Town India

  Suggesting urgent policy drive can mitigate the tariff shocks    Colin Shah, Founder and Managing Director of Kama Jewelry suggested his perspectives to mitigate the Tariff shocks. India’s product exports to the U.S. are at risk, with estimates indicating a possible reduction this year to $49.6 billion from close to $87 billion in 2024–25 since two-thirds of value exports to the U.S. will be subject to 50% tariffs.    This threatens India's gems and jewelry industry specially, as America is its largest market, worth over $10 billion driving almost 30% of the industry's entire global trade. Exports to America could drop by more than 50% since these tariffs are put in effect, risking both revenues and jobs in major manufacturing clusters.    A comprehensive urgent policy drive can mitigate the tariff shocks confronting India's gems and jewelry sector, safeguard jobs and maintain its world leadership. USA tariff headwinds have threatened the Indian natu...

Wishes government intervention over the tariff proposal   Top representatives of India's gems and jewellery (GJ) sector have urgently briefed Hon’ble Commerce Secretary Sunil Barthwal, IAS, on the potential repercussions of the United States' recent notice regarding reciprocal tariffs.   According to the White House, “For many years, the United States has been treated unfairly by trading partners, both friend and foe.  This lack of reciprocity is one source of our country’s large and persistent annual trade deficit in goods-closed markets abroad reduce United States exports and open markets at home result in significant imports.” In the context, India fear that, the US anticipates higher tariff of 5% to 20% on imports of gem and jewellery from India. The delegation, led by Shaunak Parikh, Vice Chairman, GJEPC, along with Adil Kotwal, President, Seepz Gem & Jewellery Manufacturers' Association (SGJMA), and Sabyasachi Ray, Executive Director, GJEPC, presented a ...