🇺🇸🇮🇳 US to Remove Tariffs on Indian Gems & Diamonds Under Trade Deal
In a major interim trade agreement between the United States and India, Washington agreed to lift reciprocal tariffs on Indian gems and diamonds — a huge relief for India’s jewellery export sector and one of its biggest foreign markets.
Key Facts:
💎 The US will eliminate tariffs on Indian gems and diamonds once the interim deal is fully implemented, removing punitive duties that had reached up to 50%.
📉 This tariff rollback follows a broader pact where US duties on Indian exports were cut to 18 % from around 50 %, restoring competitiveness.
📈 The move is expected to revive Indian gem and jewellery exports, which plunged last year due to steep US import taxes.
Expert Insight:
With the US market accounting for ~30 % of India’s gems & jewellery exports, tariff removal will likely boost order flows, margins, and export volumes, especially for cut & polished diamonds.
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