National News
India’s Jewellery Exports Face Significant Decline Due to U.S. Tariffs
With the U.S. imposing a 26% reciprocal tariff, India’s $32 billion gems and jewellery industry braces for a sharp fall in exports, especially to its largest
India’s $32 billion gems and jewellery industry is gearing up for a sharp decline in exports as the imposition of hefty U.S. tariffs is expected to disrupt sales to its largest market, officials say. The United States recently imposed a 26% reciprocal tariff on India, marking a significant setback to the country’s export ambitions under President Donald Trump’s global trade policy.

“The tariff is higher than expected,” said Colin Shah, managing director of Kama Jewelry, one of India’s leading diamond jewellery manufacturers. “It is quite severe and will affect exports.”
India remains the world’s largest hub for diamond cutting and polishing, processing nine out of every ten diamonds globally. The United States accounts for nearly $10 billion—or 30.4%—of India’s annual gems and jewellery exports.
Despite its importance, the gems and jewellery sector, India’s third-largest export to the U.S. after engineering and electronics, is already struggling. The industry employs millions in India and has seen a recent downturn due to weak demand from China, resulting in a 14.5% drop in exports to $32.3 billion in the 2023-24 fiscal year.
However, industry leaders remain optimistic that a long-term bilateral trade deal with the U.S. could alleviate some of the negative impact. “We’re pretty hopeful that India could land a trade deal with the U.S. in the next few months. So, we just need to push through this tough phase for a little while longer,” said Shaunak Parikh, vice chairman of the Gem and Jewellery Export Promotion Council (GJEPC).

National News
Supriya Kataria, Founder of Kumari Fine Jewellery, honoured as “Voice of the Year” at the Women Leaders Summit & Awards 2025, Goa
Supriya Kataria of Kumari Fine Jewellery honoured for her inspiring leadership and authentic voice at the Women Leaders Summit & Awards 2025 in Goa.
Supriya Kataria, Founder of Kumari Fine Jewellery, was felicitated with the prestigious “Voice of the Year” award at the Women Leaders Summit Awards 2025 (India Edition), held from 14th to 16th October at Alila Diwa, Goa. The event brought together an exceptional gathering of women leaders, changemakers, and innovators from across India, celebrating their transformative impact on business, society, and culture. The summit, themed around leadership, change, and inclusion, featured a distinguished lineup of speakers and organisations, including representatives from the Government of India, Thomas Cook India, Bank of Baroda, Reliance, Trifecta Capital, NITI Aayog, Emmay Entertainment, and Autodesk, among others. As the Luxury Jewellery Partner for the summit, Kumari Fine Jewellery added a touch of elegance and distinction to the event, reflecting its ethos of celebrating women who live beautifully and expressively.

Supriya Kataria was recognised for her powerful and authentic voice that has inspired action, created awareness, and amplified the stories of others. The “Voice of the Year” award honours individuals who embody courage, creativity, and conviction; qualities that resonate deeply with Supriya’s vision for Kumari and her leadership in redefining fine jewellery for modern Indian women. During her presentation at the summit, attended by over 100 industry leaders and delegates, Supriya spoke about Kumari Fine Jewellery’s journey, its design ethos, and its commitment to empowering women through expression and individuality. The Women Leaders Summit & Awards 2025 served as a powerful reminder that women are not just participating in change. They are leading it, one bold conversation at a time.
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