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Offers both challenges and opportunities
The Morning Standard
|April 04, 2025
The US government's decision on tariffs on Indian imports is expected to have a major impact across multiple sectors.
The new levies are likely to hit India's $32 billion gems & jewellery exports hard, given the US accounts for $11.58 billion, or 34%, of these exports.
"While the tariff's application to competing nations presents both challenges and opportunities, it is expected to significantly impact India's diamond and jewellery sector, a cornerstone of its exports to the US," the Gem & Jewellery Export Promotion Council said in a statement. "In the short run, we see challenges in sustaining India's export volume of $10 billion to the US market."
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