 "Gold, jewellery")
The reciprocal tariff threat has turned out to be real, and the gems and jewellery sector is seen among the worst affected. India’s diamond industry views the reciprocal tariff as a significant burden on Indian exporters. Exports will be badly hit in the next couple of months until the cost impact is analysed by US consumers and Indian exporters, said industry players.
According to a late evening circular issued by the Gem & Jewellery Export Promotion Council (GJEPC) to its members, the US duty increase will occur in two phases. A 10 per cent duty increase on all items imported
