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GJEPC Trade Meet Addresses US Reciprocal Tariff Challenges

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GJEPC convened an exclusive trade meet in hybrid mode on 6th October at Bharat Diamond Bourse (BDB) to address the mounting challenges faced by India’s gems and jewellery industry due to US reciprocal tariffs and explore legal pathways to mitigate their impact.

In his keynote address,  Kirit Bhansali, Chairman, GJEPC, outlined the current state of affairs and potential solutions during these uncertain times. The meet, which was attended online and in-person by over 200 participants, highlighted worrying US export figures. India’s gems and jewellery exports to the US dropped by 34.39% during April-August 2025 compared to the same period last year, falling from $3.9 billion to $2.56 billion. Natural cut and polished diamonds were hit hardest, with exports plummeting by nearly 51% in value terms and 35% in volume.

Meanwhile, overall exports to the world grew marginally by 2.93%, with significant increases to the UAE (60.79%), Hong Kong (16.14%), and the Netherlands (69.25%).

Sabyasachi Ray, Executive Director, GJEPC, outlined the Council’s diplomatic efforts since the tariff announcement. Working closely with international entities including De Beers, WFDB, and WDC, GJEPC has lobbied for diamonds and gemstones to be recognised as raw materials – similar to gold, silver, and platinum. This advocacy bore fruit on 5th September when diamonds were included in Annex III of the US reciprocal tariff framework, making them potentially eligible for duty-free treatment with “aligned partner” countries.

Supreme Kothari, Partner at Economic Laws Practice (ELP), presented legal strategies to reduce tariff impact, including leveraging US content exemptions, utilising Chapter 98 provisions for goods sent for foreign processing, and exploring opportunities in tariff-friendly jurisdictions like Mexico, Canada, and Singapore.

GJEPC has also submitted comprehensive relief proposals to various government ministries, including extending export obligation periods, allowing reverse job work in SEZs, banking relief measures, and support for affected workers through loan restructuring and health insurance coverage.

The Council continues to await a crucial ruling from US Customs and Border Protection (CBP) regarding whether jewellery manufactured from US-refined gold qualifies for the US content exemption, which could significantly reduce the tariff burden.

As negotiations for the India-US Bilateral Trade Agreement continue, the industry remains hopeful that relief measures will provide breathing room until a permanent solution emerges.

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MMTC-PAMP Appoints Sidharth Malhotra As Brand Ambassador

As Part Of The Association, Sidharth Will Lead MMTC-PAMP’s New Integrated Campaign, ‘Purest And More,’ Showcasing The Brand’s Expanding Portfolio Across Physical Precious Metals, Digital Investments and Responsible Gold Recycling.

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MMTC-PAMP, India’s only London Bullion Market Association (LBMA)-accredited Good Delivery  Gold & Silver refiner, today announced acclaimed actor Sidharth Malhotra as its Brand Ambassador, marking a significant  milestone in the brand’s journey to strengthen its connection with a new generation of consumers. As part of the association,  Sidharth will lead MMTC-PAMP’s new integrated campaign, ‘Purest And More,’ showcasing the brand’s expanding portfolio  across physical precious metals, digital investments and responsible gold recycling. 

The integrated campaign showcases MMTC-PAMP’s complete ecosystem, from 24K 999.9+ purest gold and silver coins and  bars to digital gold and silver, gold recycling, online purchasing and assured buyback services. Through relatable, everyday  moments and festive celebrations, the campaign reinforces MMTC-PAMP’s position as India’s most trusted precious metals  brand while making gold ownership more relevant, accessible and convenient for today’s consumers. 

Announcing the association, Samit Guha, Managing Director and CEO, MMTC-PAMP said:

“We are delighted to welcome  Sidharth Malhotra to the MMTC-PAMP family. Sidharth has built a strong reputation through authenticity, credibility and a  modern outlook—qualities that closely reflect the values of our brand. As one of India’s most admired and influential actors,  he enjoys a deep connect across generations, making him an ideal ambassador as we continue expanding the reach of MMTC PAMP among both seasoned investors and first-time buyers.

This partnership comes at an exciting phase in our growth as we  continue to redefine precious metals ownership through innovation, responsible sourcing and world-class quality. Through  our ‘Purest And More’ campaign, we are showcasing how MMTC-PAMP today offers far more than physical gold—from digital  investments and online buying to gold recycling and assured buyback—while remaining uncompromising on purity and trust.”

The campaign film unfolds through a series of relatable family moments around a wedding celebration, with Sidharth  naturally introducing consumers to MMTC-PAMP’s diverse offerings. The storytelling highlights that every MMTC-PAMP  offering is backed by the brand’s commitment to purity, trust and convenience while reinforcing its promise of “Purest And  More.” 

Speaking on the association, Sidharth Malhotra said:

“MMTC-PAMP has built a remarkable reputation for purity, trust and  innovation, while also modernising the way people invest in and experience precious metals. Whether it’s celebrating life’s  milestones, building long-term wealth or embracing more responsible choices through recycled gold, the brand continues to  stay relevant for today’s consumers. I’m excited to be part of this journey and look forward to connecting with people through  the ‘Purest And More’ campaign.”

The association brings together one of India’s most recognised actors with one of the country’s most trusted precious metals  brands at a time when consumer interest in certified physical gold, digital gold and sustainable precious metals solutions  continues to grow. With Sidharth Malhotra as the face of the brand, MMTC-PAMP aims to further strengthen its leadership  position while deepening engagement with a younger, digitally connected audience. 

The campaign will be amplified across television, digital platforms, social media, print, retail stores and e-commerce channels,  with dedicated creatives highlighting key offerings including digital gold and silver, festive gifting, Virasat recycled gold,  Akshaya Tritiya, Diwali and MMTC-PAMP’s certified purity credentials. 

Link to the TVC (YouTube):

Link to the TVC (Instagram):https://www.instagram.com/p/DciH4s7tim5//

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