Mumbai: The All India Gem and Jewellery Domestic Council (GJC) has expressed concern over the United States' decision to impose a 10 per cent tariff on imports from India, warning that the move could affect the competitiveness of the country's gem and jewellery exports.
Reacting to the development, GJC Chairman Rajesh Rokde said the tariff, imposed under Section 301, would create fresh challenges for Indian exporters by making their products less price competitive in one of India's largest export markets.
"The U.S. government's decision to impose a 10 per cent tariff on imports from India will undoubtedly create challenges for our gem and jewellery exporters. While the rate is lower than that imposed on some other countries, the measure will place significant pressure on margins and could dent the growth trajectory of the industry," Rokde said.
He urged the Government of India to engage with the US authorities at the earliest to resolve the issue and seek relief or exemptions for the sector.
"Protecting the competitiveness of Indian jewellery exports is vital to sustaining livelihoods and reinforcing India's position as a trusted global leader in gems and jewellery," he added.
The gem and jewellery industry is one of India's key export sectors and a major source of employment. Industry representatives fear that the additional tariff could reduce the price competitiveness of Indian products in the US market, potentially affecting export volumes if the issue remains unresolved.
