Gold Jewellery Exports: Double Tariff Blow to India
The US is set to impose a further 25 percent tariff on Indian gold jewellery exports, effective August 27. This adds to the existing 25 percent levy, creating a 50 percent total tariff.
Industry leaders have voiced serious concerns about this escalating pressure. The cumulative impact threatens the viability of numerous businesses.
This development comes amidst already challenging global economic conditions. Many fear significant job losses and a decline in India’s export earnings.
The additional tariff could severely impact India’s position in the global gold jewellery market, potentially benefiting competitors.
The government needs to urgently address this issue through diplomatic channels and explore strategies to mitigate the negative consequences for the Indian jewellery sector and its workforce. Failure to do so could have far-reaching economic and social implications.
