The gems and jewellery sector in India is buzzing with excitement following the US Supreme Court’s bombshell decision to nullify President Donald Trump’s controversial tariffs. Industry voices from New Delhi predict a renaissance in exports, deeper trade integration with the US, and a surge in job creation that could transform local economies.
Nainesh Pacchigar, Gujarat head of the India Bullion and Jewellers Association, welcomed the ruling unequivocally. Despite Trump’s earlier waiver on diamond duties post-India trade pact, jewellery exporters grappled with 18% tariffs. ‘This invalidation slashes those burdens, setting the stage for explosive growth,’ he said.
Pacchigar forecasted: ‘Sustained zero tariffs mean skyrocketing exports and a robust industry boost.’ Crucially, he pointed to employment gains for small-scale artisans, whose skills drive this multi-billion-dollar trade.
Uncertainty lingers over the US government’s reaction—possible appeals or new filings loom. But Gujarat Chamber of Commerce Senior VP Rajesh Gandhi sees silver linings everywhere. ‘Dropping to 10% uniform tariffs unlocks opportunities in textiles, manufacturing, and trade,’ he observed.
Gandhi stressed how cost-competitive Indian goods would flood US markets, spurring sectors long hampered by duties. Apparel and business leaders concurred, noting equal tariffs foster healthy rivalry, smoother trade, and India’s strengthened position stateside. This verdict could herald a new era of prosperity for India’s export-driven industries.