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.
National News
Industry Awaits Interim Deal Benefits As India-US Trade Talks Advance
Proposed Interim Pact Could Pave The Way For Zero-Duty Access For Natural Diamonds and Coloured Gemstones In The US Market.
Fresh momentum has emerged in India-US trade negotiations after Shri Piyush Goyal, Hon’ble Union Minister of Commerce & Industry, held another round of discussions with Mr. Jamieson Greer, Ambassador, US Trade Representative (USTR), and his delegation in New Delhi on 23-24 June 2026, reviewing progress on the proposed bilateral trade agreement and exploring ways to deepen economic ties.
For India’s gem and jewellery sector, the latest talks are being closely watched as the industry awaits the conclusion of the proposed Interim Trade Agreement, which is expected to improve market access for exports to the United States.
Under the framework for the interim agreement announced in February this year, natural cut and polished diamonds and coloured gemstones are expected to receive zero-duty access to the US under Annex III once the interim agreement is implemented. GJEPC has also urged the Government of India to pursue the inclusion of laboratory-grown diamonds and synthetic gemstones under the Annex III exemption list.
The latest meeting signals continued progress in negotiations towards finalising the interim agreement. The outcome remains significant for the gem and jewellery industry, as implementation of the agreed framework would enhance the competitiveness of India’s natural diamond exports in the US market while addressing one of the sector’s key trade priorities.
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