India’s Diamond and Jewellery Sector’s Response to U.S. Tariffs

• The U.S. has imposed a 50% import duty on India’s cut and polished diamonds and a 50-57% duty on studded and non-studded jewellery, disrupting decades of trade.

• The sector is seeking government intervention to absorb the shock caused by the tariffs.

• The U.S. is the largest importer of diamonds from India, with India exporting diamonds worth ₹46,000 crore and studded gold jewellery worth ₹23,000 crore in 2024-25.

• The tariffs are expected to affect the jobs of 1.7 lakh skilled workers, according to the Gems and Jewellery Export Promotion Council.

• 85% of India’s exporters are Medium and Small Scale Enterprises (MSMEs), which will not be able to bear the shock of the loss of the U.S. market in the short term.

• The industry seeks short-term measures in terms of policy reliefs, aid for workers, and monetary and marketing benefits for three to six months to help the manufacturers absorb the shock.

• The industry demands monetary incentives like interest subvention, temporary subsidisation of exports to the U.S., worker-related benefits, and marketing benefits.

• The total bailout package in the form of various incentives is likely to be to the tune of ₹500 crore, as per rough industry estimates.

India jewellery export crisis is important topic for Civil service exam (WBCS).

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