The US Supreme Court’s bold strike against Donald Trump’s tariffs has sparked jubilation among Indian industry voices, forecasting a surge in exports, stronger bilateral trade, and a wave of job openings. From New Delhi, leaders in gems, textiles, and beyond see this as a pivotal shift.
Nainesh Pacchigar, Gujarat head of the India Bullion and Jewellers Association, praised the ruling that nullified the tariffs as illegal. Post-trade deal with India, diamonds entered tariff-free, but jewelry faced 18% hurdles—this changes that dynamic significantly.
“A tremendous lift for the gems and jewelry sector across India,” Pacchigar affirmed. He projected that permanent tariff cuts would amplify exports, fueling industry growth and employing more skilled workers, including vital small-scale artisans.
Uncertainty lingers over US government countermeasures, such as appeals. Rajesh Gandhi, a top official at the Gujarat Chamber of Commerce and Industry, labeled it a constructive step. A blanket 10% tariff reduction would unlock prospects in diverse fields.
“Indian exports become fiercely competitive in the US, powering textiles, manufacturing, and trade sectors,” Gandhi highlighted. Trade reps in textiles concurred: uniform global tariffs at 10% ensure fair play, smoother commerce, fiercer competition, and a robust Indian foothold stateside.
This development underscores the fragility and potential of international trade pacts. For India, it heralds an era of enhanced market access, economic uplift, and labor market vitality, contingent on steady policy execution.