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Gems and jewellery sector to be hit hard
Hindustan Times Navi Mumbai
|April 04, 2025
The US government's decision to impose an additional 27% reciprocal tariff on Indian imports is expected to significantly impact India's gems and jewellery sector, experts said.
MUMBAI: The new tariff will now effectively be 32-5%-40.5%.
Gems and jewellery made up 12.8% of India's exports to the US and amounted to $9.9 billion in FY24, the highest by value.
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