National News
GJEPC seeks government intervention over US reciprocal tariff proposal
Top representatives of India’s gems and jewellery sector have urgently briefed Hon’ble Commerce Secretary Sunil Barthwal, IAS, on the potential repercussions of the United States’ recent notice regarding reciprocal tariffs. The delegation, led by Shaunak Parikh, Vice Chairman, GJEPC, along with Adil Kotwal, President, Seepz Gem & Jewellery Manufacturers’ Association (SGJMA), and Sabyasachi Ray, Executive Director, GJEPC, presented a detailed overview of the industry’s concerns and proposed mitigation strategies.
The briefing aimed to underscore the significant impact the proposed tariffs could have on Indian exports and the broader industry. Satya Srinivas, IRS, Additional Secretary, Ministry of Commerce (MoC), and Dnyaneshwar Patil, Development Commissioner, SEEPZ were also present to offer a comprehensive understanding of the issues at hand.
The US notice, which threatens reciprocal tariffs, has raised concerns within the Indian gems and jewellery sector, a key contributor to the nation’s export revenue. The industry leaders outlined the potential economic fallout and presented specific recommendations to safeguard interests.
- Visit gives CG greater insights into diamond trade and import-export operations
- BDB Committee Highlights Close Ties between Diamond Industries in UAE and India
The Hon’ble Consul General of India to Dubai, Shri Vishnu Vardhan Reddy, visited the Bharat Diamond Bourse (BDB) complex on July 24, and after being shown around the complex, engaged with members of the Bourse Committee.
The visit enabled the Consul General to gather better insights into the functioning of the diamond trade and the operations within the Bourse. He also observed the smooth functioning of import-export trade in diamonds between the two countries, facilitated by the PCCCC run by Indian Customs within the complex.
The UAE is one of India’s most significant trading partners in the field of diamonds and jewellery. Bilateral trade between the two countries reached US$33.51 billion in FY2025-26.
In addition to a tour of the complex to understand the complete cycle from the import of rough diamonds to the export of polished diamonds, Shri Vishnu Vardhan Reddy also spent time interacting with Mehul Shah, Vice President, BDB, and other Committee members.
The BDB Committee highlighted the close connections between diamond companies in Mumbai and those in Dubai, as well as the regular interactions between the two centres. They thanked Shri Vishnu Vardhan Reddy for the cooperation they have always received from the Indian Embassy and expressed confidence that this visit would further streamline the movement of import-export parcels between the two countries.
Shri Vishnu Vardhan Reddy appreciated the global standards of the infrastructure and systems within the Bharat Diamond Bourse, as well as the professionalism with which the import-export trade operates. He assured the BDB Committee of the continued support of the officials at the Indian Embassy in the UAE.
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