The recent announcement by the Trump administration of a 27% reciprocal tariff on Indian gem and jewellery exports to the US has raised serious concerns within the industry. The Gem & Jewellery Export Promotion Council (GJEPC) has expressed its apprehensions, stating that the move would place a significant burden on both Indian exporters and American consumers.
India’s gem and jewellery industry, like the rest of the world, is closely analyzing the evolving global economic landscape following this policy shift. While the GJEPC acknowledges the U.S. administration’s objective of addressing trade and tariff imbalances, it has urged the United States to preserve the spirit of its long-standing trade partnership with India. This relationship, built on mutual respect and shared economic interests, has played a pivotal role in global jewellery trade.
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GJEPC’s Official Response
In an official statement, the GJEPC emphasized the potential ramifications of the tariff:
“The Trump administration’s announcement of a 27% reciprocal tariff on Indian gem and jewellery exports to the US would be a significant burden on Indian exporters and American consumers alike. While the tariff’s application to competing nations presents both challenges and opportunities, it is likely to significantly impact India’s diamond and jewellery sector—a cornerstone of its exports to the US. In the long term, we foresee a reshaping of global supply chains. In the short run, we anticipate challenges in sustaining India’s current export volume of USD 10 billion to the US market. We urge the Government of India to progress the Bilateral Trade Agreement between India and the US, as it would be crucial in navigating the tariff issues and securing the long-term interest of the sector.”
The council further stated that it is actively engaging with stakeholders to mitigate risks and ensure a balanced approach that secures continued access to the lucrative US market.
GJEPC’s Role in the Industry
Established in 1966 by the Ministry of Commerce, Government of India, the Gem & Jewellery Export Promotion Council (GJEPC) has been instrumental in expanding India’s presence in the global jewellery market. Representing over 8,800 members across the industry, GJEPC has played a crucial role in promoting exports and supporting trade policies. With regional offices in major industry hubs like Mumbai, New Delhi, Kolkata, Chennai, Surat, and Jaipur, the council continues to drive initiatives that benefit India’s gem and jewellery sector.
With the new US tariffs threatening to disrupt trade dynamics, the GJEPC remains committed to advocating for policy solutions that safeguard India’s position as a leading global jewellery exporter.
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