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India Pushes for Full Tariff Elimination in Interim Trade Deal with US: Report

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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.

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AMAMA Secures $1 Million from Mistry Ventures to Accelerate Growth and Global Expansion

The Delhi-based jewellery brand will use the funding to scale operations, strengthen infrastructure, and amplify its presence in domestic and international markets.

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Delhi-based handcrafted jewellery brand AMAMA has raised $1 million in funding from Mistry Ventures LLP in a move aimed at accelerating its expansion and strengthening its foundation for long-term growth. This marks the brand’s second round of funding, following its initial investment from She Capital Trust.

The newly secured capital will be channelled into expanding AMAMA’s operational footprint, enhancing its supply chain and tech infrastructure, and scaling its product and design teams. A key focus will be amplifying the brand’s global storytelling around Indian artisanal craftsmanship fused with modern design sensibilities.

Founded in 2019 by Nikita Gupta, AMAMA has carved a niche in the fashion accessory space with its distinctive hand-embroidered, 22kt gold-plated brass jewellery. The brand operates with a dedicated in-house team of over 85 skilled artisans, combining traditional techniques with contemporary aesthetics.

AMAMA is now gearing up to open new stores in Mumbai and Ahmedabad, along with two more outlets in the Delhi NCR region, reinforcing its physical retail presence. It is also exploring travel retail opportunities and pursuing international expansion through global exhibitions, curated showcases, and partnerships with overseas multi-brand outlets.

Commenting on the milestone, Nikita Gupta, Founder of AMAMA, said, “This isn’t just a win for AMAMA, it’s a win for bold, rooted design from India. With this backing, we’re ready to scale new heights, explore new geographies, and continue crafting pieces that speak louder than trends.”

With this strategic investment and a strong vision, AMAMA is set to elevate its brand presence and champion India’s rich legacy of handcrafted jewellery on the global stage.

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Van Mahotsav at IIG: A Celebration Rooted in Nature and Creativity

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The International Institute of Gemology (IIG) celebrated Van Mahotsav, India’s annual festival of trees with a deeply symbolic and immersive experience, blending environmental consciousness with the spirit of design and innovation. Observed across the country to raise awareness about the importance of trees and ecological balance, Van Mahotsav resonates strongly with IIG’s ethos: nurturing talent in an industry born from nature, shaped by creativity, and sustained by responsibility.

At its core, jewellery design is an art form inspired by the elements, from the brilliance of gemstones formed deep within the earth to motifs drawn from leaves, flowers, skies, and oceans. IIG, as an institution that shapes future custodians of the gem and jewellery world, believes that nature is not only a muse, but also a mentor. Trees, like education, take time to grow; they require care, nurturing, and a strong foundation. Both leave legacies, both shape futures.

Gunjan

The celebration began with a thoughtful address by Ms. Gunjan Sapra, COO & Head of Department of Jewellery Design, who set the tone with a powerful message: “Nature is not only our life source; it is also our deepest source of inspiration. Every branch, every bloom, every element of nature holds within it a design story waiting to be discovered.” Her words served as a reminder that when students observe nature with sensitivity and awareness, they open doors to creative expression that is meaningful, rooted, and responsible.

In his address, Mr. Rahul Desai, CEO & Managing Director of IIG, emphasized the role institutions and individuals play in shaping a sustainable future. “It is the responsibility of every individual and every organization to do their best for the environment. Every chance we get is an opportunity, to rethink, to act, and to contribute meaningfully. At IIG, we are committed to this philosophy not just in thought, but in practice.”

He highlighted IIG’s shift towards sustainable practices; from digitizing brochures and course materials to minimizing plastic use across campuses, and reiterated the institute’s long-term commitment to environmental stewardship through its curriculum, infrastructure, and values.

A highlight of the event was the Nature-Inspired Jewellery Design Competition, where students translated the beauty and symbolism of the natural world into striking pieces of wearable art. From leaf motifs to flora-fauna compositions, the entries reflected a deep reverence for nature and an acute understanding of form, balance, and symbolism. The winning piece, a breathtaking necklace by Ms. Kritika Jiwnani, inspired by the Aurora Borealis, used Alexandrite to mimic the northern lights, capturing not only the aesthetics of nature but also its mystery and magic.

The campus was transformed into a visual celebration of Van Mahotsav as students curated and decorated soft boards with themes centered on sustainability, biodiversity, and forest life. These creative expressions became storytelling walls, echoing messages of conservation, harmony, and purpose.

The celebration closed with a tree plantation drive and a green gift for each participant, a symbol of growth and responsibility. For IIG, Van Mahotsav is more than a tradition; it’s a reflection of its core belief, that true brilliance is rooted in purpose. In shaping tomorrow’s jewellery professionals, the institute champions not just design excellence, but environmental integrity.

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Vummidi Bangaru Jewellers Partners with Ignition presented by Shiv Nadar Foundation, Chennai Edition

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Vummidi Bangaru Jewellers (VBJ Since 1900), India’s most trusted heirloom jewellery brand joined hands with Ignition presented by Shiv Nadar foundation, Chennai edition, a stage that united young professionals, like-minded individuals from varied disciplines. Ignition is a platform created and curated by the award-winning journalist Shoma Chaudhury under the umbrella of her company Lucid Lines Productions, to deepen public discourse. The event took place at ITC Grand Chola and was attended by over 500 powerful voices from the city.

Speaking about the association, Amarendran Vummidi, Managing Partner, VBJ Since 1900, said, “We are proud to be associated with Ignition presented by Shiv Nadar foundation, Chennai edition as we share similar principles and ideologies. Ignition presented by Shiv Nadar foundation, Chennai edition celebrates accomplishments and encourages younger generation. These healthy conversations truly ignite the minds and promotes diverse thinking amongst the youth. As a 125-year-old brand, we have the responsibility towards the society, and this is one small step towards that direction.” 

Adding a rich cultural layer to this event, VBJ Since 1900 showcased a curated selection of its heritage and contemporary jewellery through a specially designed display panel at the venue. 

Hosted by veteran journalist, Shoma Chaudhury, the event brought together India’s most influential minds — Sanjaya Baru (Policy Analyst and Author), Dr. Ambrish Mithal (Padma Bhushan awardee), D.P. Srivastava (former Ambassador to Iran), Kabir Taneja (Strategic Affairs Expert), and Wellness Advisor Richa Gangani offered a compelling exchange of ideas.

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