In a circular issued to industry stakeholders, GJEPC has outlined the potential impact of the plan, emphasizing the need for immediate intervention by Indian authorities.
The U.S. government is reportedly considering the introduction of reciprocal tariffs, which would allow the country to impose duties on imports from nations that levy higher tariffs on American goods. Given that India’s tariff structures differ from those of the U.S., the proposed measure could lead to increased duties on Indian jewellery exports, making them less competitive in the American market.
According to the GJEPC, the United States remains one of the largest markets for Indian jewellery, and any tariff hikes could significantly affect export volumes and revenue. The Council has urged the Indian government to initiate discussions with its counterparts to ensure that the jewellery sector does not suffer disproportionate disadvantages.
Industry experts warn that an increase in tariffs could lead to a decline in exports, impacting manufacturers, artisans, and traders across India’s jewellery ecosystem. Additionally, it could disrupt long-standing trade relationships and shift demand towards alternative markets.
GJEPC has recommended that stakeholders stay updated on the developments and actively engage with policymakers to highlight the concerns of the industry. The Council is also exploring potential measures to mitigate risks associated with the tariff plan.
As discussions continue, industry leaders are hopeful that diplomatic negotiations will help maintain favourable trade conditions between India and the U.S., preserving India’s strong position in the global jewellery market.
