Avoid exporting to the US or agree to pay a 50% tariff!
Starting August 27, the US 50% tariff on Indian exports took effect, impacting the gem and jewellery sector. A day earlier, the Union Government held a high-level meeting to discuss relief for exporters, particularly in the gems and jewellery sector. Still, no announcement was made, leaving the industry anxious during a crucial time.
The anxiety is justified. The Gem & Jewellery Export Promotion Council (GJEPC) highlighted the heavy reliance on the US market, with 85% of Mumbai’s SEEPZ exports, which support nearly 50,000 jobs, flowing directly there.
This policy change in Washington, which poses an existential threat to thousands of Indian livelihood...
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Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
