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.