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Cut tariffs to soften US levies, say gems units
March 08, 2025
|Financial Express Lucknow
WITH A 13-15% difference in tariffs between India and the US for diamonds, precious stones and jewellery, the reciprocal tariff plan could hit India's exports hard.
The impending tariff hike by the US has forced industry bodies to urge the Centre to lower India's tariffs to a certain extent to minimise the US tariff hike.
The US accounts for 30% of India's annual gems and jewellery exports. Though a variety of products from the labour-intensive sector is exported to the US, the largest segment is cut and polished diamonds.
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