India is seeking complete removal of the 26% retaliatory tariff and the existing 10% baseline US import duty in a proposed interim trade agreement with the United States, expected to be finalised before 8 July, according to The Hindu Business Line.

Commerce & Industry Minister Shri Piyush Goyal recently visited Washington to accelerate negotiations. He held discussions with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, focusing on key Indian exports such as textiles, leather, and gems & jewellery.

An official source cited in the report said talks are progressing positively, with both countries targeting a first-phase agreement before the 9 July deadline, when the 90-day suspension of the additional US tariffs expires. The deal may also include provisions on services, digital trade, and the reduction of non-tariff barriers.

The US imposed the 26% additional duty on Indian goods on 2 April as a retaliatory measure but delayed enforcement until 9 July. While this postponement offers a temporary breather, India is now pressing for the complete rollback of both the retaliatory and baseline tariffs.

In return, India may offer concessions such as minimum import prices or quotas for sensitive sectors like agriculture and dairy. At the same time, it is pushing for greater access to the US market for products including gems and jewellery, garments, plastics, chemicals, shrimp, bananas, and grapes.

The US, in turn, is seeking tariff relief for its exports of industrial goods, electric vehicles, petrochemicals, wines, dairy, and genetically modified agricultural products.

Negotiators are working under a tight timeline to take advantage of the current tariff suspension and finalise the initial tranche of a broader bilateral trade agreement.

According to the report, both nations aim to double bilateral trade to $500 billion by 2030. The US has expressed ongoing concerns over India’s non-tariff barriers and its rising trade surplus, which reached $41.18 billion in FY2024–25. Total bilateral trade during the period stood at $131.84 billion, with the US remaining India’s largest trading partner for the fourth consecutive year, accounting for around 18% of India’s total merchandise exports.

Divine Solitaires, one of India’s leading natural solitaire diamond brand marked this Mother’s Day with a touching and engaging celebration across various cities across the country – Pune, Yavatmal and Kanpur – creating a space where customers express love and gratitude for their mothers through simple, heartfelt gestures

On May 11th, 2025, Divine Solitaires brought Mother’s Day celebrations to life at a few partner jewellery stores. Customers were invited to pen down thoughtful notes to their mothers and capture those moments at a thoughtfully designed selfie booth. These memories were then shared on Instagram as part of Divine Solitaires’ digital campaign — turning a simple gesture into a lasting tribute to the most important women in our lives. The activity was conducted at various jewellers. The overwhelming response highlighted the deep emotional connections people share with their mothers, with participants enthusiastically celebrating and sharing their love both offline and online.

Adding a delightful surprise to the day, few lucky winners-were gifted the new diamond coin from Divine Solitaires.

Reflecting on the success of the initiative, Jignesh Mehta, Founder & Managing Director, Divine Solitaires, said, “Mother’s Day is a celebration of unconditional love, and we wanted to honour that bond in a way that felt personal and meaningful. Seeing families come together, share their emotions, and leave with memories they’ll cherish was truly heartwarming.”

With heartfelt moments and beaming smiles, Divine Solitaires’ Mother’s Day initiative captured the essence of a mother’s love — timeless, unconditional, and truly priceless. .

The Gem & Jewellery Export Promotion Council (GJEPC) has announced a significant event that underscores the growing economic ties between India and the United Kingdom—the inaugural India-UK Jewellery Buyer-Seller Meet, scheduled for 8-9 July 2025, at the Arsenal Executive Box in London. This gathering, facilitated by the India-UK Free Trade Agreement (FTA), marks a pivotal moment for the jewellery trade, bringing together Indian manufacturers and UK buyers to facilitate collaboration in a market poised for growth.

The United Kingdom is a powerhouse in the global jewellery sector, projected to generate US$5.23 billion in revenue in 2025. Ranking among the top 10 importers of gold, silverware, and jewellery, the UK imported over US$3.2 billion-worth of these goods in 2022. This event, focusing on fine jewellery, silver jewellery, and lab-grown diamonds, taps into a demand that continues to rise, driven by discerning consumers and a robust retail landscape. The timing of the meet in July is strategic, aligning with the UK trade show calendar. It provides buyers an opportunity to finalise designs ahead of the Christmas season, while Indian manufacturers benefit from a 4-6 week lead time to ensure quality production and customisation.

What sets this event apart is its curated approach. GJEPC has spent months identifying 20 Indian exhibitors and over 60 prominent UK buyers, including industry giants like H Samuel, Ernest Jones, Diamnet, Silverton, Dillion Jewellery, Beaverbrooks, and Warren James among several others.

These buyers, representing major chain stores, retailers, and brands from cities like London, Birmingham, Newcastle, and Manchester, will engage in one-on-one meetings with Indian counterparts. This format ensures meaningful interactions and builds lasting partnerships.

The India-UK FTA has opened new avenues for collaboration, and this Buyer-Seller Meet is a testament to its potential. By connecting Indian manufacturers with UK buyers, the event strengthens economic bonds.

For Indian exhibitors, it’s a chance to showcase craftsmanship in a market that values quality and innovation. For UK buyers, it offers access to diverse designs and sustainable options like lab-grown diamonds, which are increasingly popular.