Cut tariffs to soften US levies, say gems units

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.

- KRISHNA BAROT

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.