National News
Trump tariffs bring India GJ exports to standstill; industry hopes for a swift resolution
A sudden 26% tariff imposed by the U.S. administration on Indian gems and jewelry has effectively brought exports to a standstill, leaving industry leaders scrambling and buyers hesitant, according to sector representatives. The industry now hopes for a swift resolution through government negotiations within the next three months.
“Starting tomorrow, I don’t see any exports going to the USA,” said Adil Kotwal, Chairman of the SEEPZ Gems and Jewellery Manufacturers’ Association (SGJMA). “Everybody has told us to put all orders on hold. They have told us to manufacture it and keep it ready for them.”
The short-term consequences are expected to be substantial. Approximately 64% of jewelry exports from SEEPZ, amounting to roughly $3.5 billion, are destined for the U.S. market. The tariff hike, escalating from 6% to 26%, has significantly increased upfront duties, placing pressure on exporters’ liquidity. For a million-dollar consignment, duties have surged from $60,000 to $320,000.
U.S. retailers, having recently stocked up for Mother’s Day, are currently refraining from placing new orders. “Retailers in the United States right now have enough stock for the next three months, so they are not in any rush,” Kotwal noted.While bilateral talks continue, industry leaders remain optimistic about a timely resolution. “The government has been in touch with us. And I believe that in the next three months, some resolution should come about,” Kotwal said. He added that the Indian government is advocating for a bilateral trade agreement, and that, while the 26% tariff is deemed unsustainable, a 10% rate would be more acceptable to the sector. “I think around 10%, we’ll all be very comfortable with that.”
Beyond the U.S., exporters are monitoring other key markets. Ray noted that initial optimism following the Hong Kong show in March regarding diamond exports to China has been overshadowed by the new tariff uncertainty. “If you are looking at the two big upper-end diamond markets, they are the US and China. That’s where the focus is,” he explained.
The Middle East, another important market for Indian gold jewelry, faces challenges due to rising gold prices and concerns about crude oil and consumer spending, adding to the sector’s concerns.
The industry is now anticipating a difficult period while awaiting the outcomes of trade discussions. With the U.S. accounting for $10 billion of India’s gems and jewellery exports in FY24, a resolution is deemed crucial for the sector’s long-term health.
National News
This Women’s Day, Dhirsons Jewellers Celebrates the Milestones in a Woman’s Journey
This Women’s Day, Dhirsons Jewellers Celebrates the Milestones in a Woman’s Journey.
While jewellery is often associated with weddings and festivals, Dhirsons Jewellers, Dhiraj Dhir Group believes the most meaningful pieces are the ones that mark a woman’s personal milestones. This Women’s Day, the brand celebrates these moments with the theme “Honouring Milestones, Not Occasions.”
Moving beyond traditional celebrations, the brand highlights moments that truly define a woman’s journey. These personal achievements often go uncelebrated, yet they mark some of the most meaningful chapters in her life.
The campaign also introduces the idea of “a colour for every milestone.” Gold symbolises the woman who built her own foundation, reflecting strength and independence, while white represents the woman who chose to heal and begin again. Through this thought, Dhirsons Jewellers encourages women to recognise their journeys and celebrate the paths they have created for themselves.
Riva Dhir, Creative Director, Dhirsons Jewellers, Dhiraj Dhir Group, Lajpat Nagar said, “People often ask me what we create at Dhirsons, and my answer is simple, we don’t make jewellery for occasions, we create it for the milestones in a woman’s journey.
Over the years, I have seen women walk into our store at defining moments in their lives, celebrating a success, marking a hard-earned achievement, or simply choosing themselves for the first time. That is when I realised that jewellery is never just about gold or diamonds. It becomes a reminder of strength, growth, and a promise she once made to herself. That is why every piece we create is designed to outlive trends, because when a woman wears something truly meaningful, it becomes a part of her story.”
At its heart, the campaign celebrates the moments of courage, growth, and self-belief that shape a woman’s journey and recognises that these milestones deserve to be honoured and remembered when they happen.
-
National News3 hours agoThis Women’s Day, Dhirsons Jewellers Celebrates the Milestones in a Woman’s Journey
-
BrandBuzz19 hours agoThe Pearl Edit: Thoughtful Women’s Day Gifting by GIVA
-
BrandBuzz19 hours agoAugmont Launches SPOT 2.0: One Platform. Every Product. Efficient Business
-
BrandBuzz23 hours agoSenco Gold & Diamonds Launches “SHAPE OF YOU”- AI Application for Women’s Day Celebration
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.