India’s jewellery sector could be hit by Trump’s trade policy

Reciprocal tariffs is a trade policy that the USA will impose on other countries, citing that it will prioritize fairness in international trade. In reciprocal tariffs, the U.S. will impose tariffs on goods imported by them at the same rate as other countries or matching the tariff rates imposed by other countries on goods exported by the U.S.

India’s jewellery sector could be the hardest hit as the USA accounts for 30 percent of India’s total jewellery exports. Some of the products of the sector which could get hit the hardest will be lab-grown diamonds, cut & polished diamonds, and gold jewellery. The decline in exports could also impact employment in India’s Gem & Jewellery industry as well.