India’s gem and jewellery sector has formally presented its key demands to the Government of India, urging for relief from US tariffs amid escalating trade tensions. GJEPC’s industry representation to the Gol encapsulates key areas requiring immediate attention under the proposed Bilateral Trade Agreement (BTA).

The delegation included Shaunak Parikh Vice Chairman, GJEPC: Shri Anoop Mehta, Co-Convener Diamond Panel, GJEPC and President, Bharat Diamond Bourse (BDB) Adil Kotwal, President, Seepz Gem &Jewellery Manufacturers Association (SGJMA) and  Sabyasachi Ray. Executive Director, GJEPC.It  has requested the inclusion of diamonds and coloured gemstones of the US Government’s Ad Valorem Reciprocal Tariff Notification. The move aims to safeguard polished diamonds from heightened duties. Additionally, the Council recommends capping total import duties on jewellery entering the US at 10% inclusive of any ad valorem component.

To address the broader trade imbalance, GJEPC has proposed that granted reciprocal concessions for gold and silver bullion imports India as those extended to under CEPA .India is open to providing duty concessions of 6-10% for US jewellery exports to the Indian market under the BTA, contributing to a more balanced tariff.

GJEPC suggests that gem and jewellery duty relief be fast-tracked under the Early Harvest component of the BTA. With only a three-month grace period in place before reciprocal tariffs kick in, there is growing concern that failure to act swiftly could bring the industry to a standstill.