National News
Belgian Delegation Visits GJEPC to Strengthen Bilateral Trade Ties
The Gem & Jewellery Export Promotion Council (GJEPC) hosted a high-level delegation from Belgium at its head office in Mumbai to foster strategic dialogue and collaboration within the gem and jewellery sector.
The Belgian delegation included H.E. Mr. Frank Geerkens, Consul General of Belgium in Mumbai, and Mr. Jonas Heirbrant, Trade Counsellor at the Embassy of Belgium. They were welcomed by Mr. Shaunak Parikh, Vice Chairman of GJEPC, and Mr. Sabyasachi Ray, Executive Director of GJEPC.
During the meeting, both sides held in-depth discussions on key industry issues such as EU-India trade negotiations, G7 compliance regulations, tariff structures, banking and financial hurdles, and the need for smoother visa facilitation for business travel. The dialogue aimed to enhance mutual cooperation and support between the two nations in the evolving global trade landscape.
National News
US Demand Slowdown Hits Diamond, Apparel, Exporters As Factories Shut and Orders Dry Up
A Dual Challenge Of Softening US Demand and Unpredictable Tariff Structures Is Creating Severe Operational Strain Across India’s Export-Driven Manufacturing Sectors.
A dual challenge of softening US demand and unpredictable tariff structures is creating severe operational strain across India’s export-driven manufacturing sectors. Key industrial hubs—specifically Noida’s garment manufacturing sector and Surat’s natural diamond cutting and polishing cluster—are implementing widespread austerity measures, downsizing workforce numbers, and extending holiday shutdowns to mitigate margin erosion.
US buyers are either delaying long-term commitments or demanding steep 20–30% price discounts to absorb potential tariff costs, forcing Indian factories to absorb overheads while revenue stays locked.
Surat’s diamond polishing units have stretched traditional Diwali holiday closures to 25 days this year, compared to 15 days in the previous year. Approximately 300 small-scale diamond cutting and polishing units have shut operations over the past six months,
Demand Drivers Behind the Slump:Weakened retail consumer demand across the United States.Persistent macroeconomic softness and subdued order volumes from China, another primary export market.
US Jewellery Companies Continued To Shrink In The Third Quarter:JBT
US Demand Slowdown Hits Diamond, Apparel, Exporters As Factories Shut and Orders Dry Up
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