Duty slashed for jewellery, zero for precious stones

US IMPORT TARIFFS on Indian exports of jewellery will be lowered to 18% as per the interim agreement under the US-India Bilateral Trade Agreement (BTA), while the duty on exports of gems and diamonds will fall to zero, bringing relief to the gems and jewellery sector.

- KRISHNA BAROT

Rajesh Rode, chairman of All India Gem and Jewellery Domestic Council (GJC), said that with tariffs on gems and diamonds now reduced to zero, Indian exporters gain unprecedented access to the US market.”

This breakthrough strengthens our global competitiveness, boosts margins, and ensures our artisans’ creations reach international audiences at fair prices”, he said. He added that while jewellery continues to attract an 18% tariff, the gains would benefit Indian craftsmen.