India’s gems and jewelry powerhouses are celebrating the India-US trade deal as a monumental shift. Zero tariffs on exports to America could multiply business manifold, according to top executives in Jaipur.
In a candid assessment, Dwarka Gems Limited’s Krishna Bihari Goyal described the pre-deal scenario: 50% US tariffs devastated sales, hitting MSMEs hardest. ‘From giants to garage operations, everyone bled,’ he said. The new zero-duty access pits India directly against Asian rivals, with victory in sight.
This sector isn’t just glitter—it’s gold for India’s economy, ranking among the highest forex generators. Goyal predicts widespread prosperity as exports surge.
Avinash Gupta of the All India Gem & Jewellery Domestic Council zeroed in on cutting and polishing hubs. ‘We’ve clawed back from tariff wounds; now expect double the recovery in two years,’ he asserted.
Dinesh Lakhani from Kiran Gems elaborated on the US focus: over 50% of exports head there, stalled by duties last year. Now, with open markets, American chains and boutiques will flock to Indian suppliers. ‘Both nations win, but our exporters reclaim lost ground,’ Lakhani noted.
The deal’s timing couldn’t be better, injecting adrenaline into a resilient industry. Watch for skyrocketing shipments as India reclaims its sparkle on the world stage.