Trump’s Tariff Shock: India’s Gem & Jewellery Sector Faces Crisis
The US’s imposition of a 25 per cent tariff on Indian imports, announced by President Donald Trump on July 31, 2025, has sent shockwaves through the country’s gem and jewellery sector. Leading manufacturers and exporters expressed grave concerns to ANI.
This significant hike in tariffs threatens to severely cripple India’s export economy. The gem and jewellery industry is a major contributor to India’s foreign exchange earnings and employs millions.
Industry representatives fear a substantial decline in exports to the US, impacting livelihoods and potentially leading to job losses across the value chain. The impact could ripple through related industries as well.
The government is expected to respond swiftly to mitigate the potential damage. However, the immediate future looks uncertain for an industry already facing global economic headwinds. The long-term implications for India’s trade relations with the US remain a key concern. This situation underscores the vulnerability of export-oriented sectors to unpredictable global trade policies.
