National News
US slaps 50% tariff on Indian exports; spells doomsday for GJ industry
Trump Slaps 25% Additional Tariff on India, Doubling Duty to 50%; Major Blow to Gems, Jewellery, Textiles & Leather Exports
US President Donald Trump announced a 25% additional tariff on India, effectively taking the total tariff to 50%. The move is likely to severely impact domestic export sectors such as gems and jewellery, textiles, leather amongst others.
Think tank GTRI says the new tariffs are expected to make Indian goods incredibly expensive in the US, with potential to cut US-bound exports by 40–50 %. This 50% tariff has prompted the Indian GJ industry to explore setting up manufacturing units in low tariff nations like Dubai and Mexico from where they can directly export to the US.
The US is the largest market for Indian exporters of diamonds and studded jewellery worth $10-billion as of 2024-25. The United Arab Emirates faces a 10% tariff while Mexico 25%.

GJEPC Chairman Kirit Bhansali said the 50% tariff is a doomsday for the Indian gem and jewellery sector. We have to find alternate ways to do business with the US, he said. “We will reroute our products through other countries after studying the tariff structure of that country with the US. We will set up manufacturing units there quickly. Dubai is the nearest destination for us. We will also look into rerouting studded jewellery through Mexico, if required. However, we will do everything legally,” Bhansali said.
The imposition of a 25% tariff on Indian gold jewellery exports-already in effect-and the additional 25% set to be enforced from 27th August represent a compounded blow to the sector. This steep escalation not only renders our products significantly less competitive in the U.S. market, but more critically, it jeopardizes the livelihoods of thousands of skilled artisans who depend on export demand for their survival.

These craftsmen-many from marginalized communities are the backbone of India’s jewellery ecosystem, preserving centuries-old techniques through small workshops and family-run enterprises.
A cumulative 50% tariff threatens widespread job losses, destabilizes local economies, and risks eroding a rich cultural heritage. We urge the government to act swiftly and engage in trade negotiations that protect these livelihoods and uphold India’s global leadership in handcrafted jewellery” said – Rajesh Rokde – Chairman – GJC.
The 25% tariff on Indian gold jewellery exports-already in effect-with an additional 25% set to begin on 27th August, delivers a compounded blow to the sector. It makes our products less competitive in the U.S. market and jeopardizes the livelihoods of thousands of skilled artisans, many from marginalized communities, who sustain India’s centuries-old jewellery craftsmanship through small workshops and family enterprises.
This tariff shock is also pressuring the Indian Rupee, likely making gold costlier for domestic consumers and dampening demand within India-further straining the industry. We urge the government to act swiftly and engage in trade negotiations to protect jobs, stabilize currency impact, and preserve India’s global leadership in handcrafted jewellery” said, Avinash Gupta – Vice Chairman – GJC

A team from the US gem and jewellery industry is visiting India on August 19 to hold talks with the industry body and union commerce ministry on the tariff issue. There are 70,000 small and medium jewellery retail outlets in the US who largely source jewellery from India.
National News
Bhima Gold Unveils Ashtalakshmi Coin Collection for Akshaya Tritiya, Blending Devotion with Exquisite Design
A culturally rooted, insight-led launch that reimagines festive gold buying through storytelling, symbolism, and spiritual relevance.
In a move that blends cultural storytelling with product innovation, Bhima Gold has unveiled its Ashtalakshmi Coin Collection for Akshaya Tritiya – positioning gold not just as a purchase, but as a deeply symbolic expression of prosperity, faith, and intent.
Timed with one of India’s most significant gold-buying occasions, Akshaya Tritiya, the launch reflects a deeper cultural shift in consumer behaviour. While the festival continues to drive strong purchase intent, there is a growing preference for meaningful, purpose-led buying experiences over purely transactional consumption.
Aligned with this evolving mindset, the Ashtalakshmi coin collection has been thoughtfully conceptualised to blend tradition with deeper symbolism. Inspired by the eight sacred forms of Goddess Lakshmi, each coin represents a distinct dimension of prosperity—from wealth and nourishment to courage, knowledge, and continuity.

By bringing together Adi Lakshmi, Dhana Lakshmi, Dhanya Lakshmi, Gaja Lakshmi, Santana Lakshmi, Veera Lakshmi, Vijaya Lakshmi and Vidya Lakshmi, the collection reframes gold coins from being a generic festive purchase to a story-driven, culturally immersive product experience – one that resonates across generations and belief systems.
This launch also aligns with Bhima Gold’s larger centenary narrative of “Together Purever,” which focuses on legacy, shared traditions, and evolving consumer meaning. The collection becomes an extension of that philosophy – reinforcing how heritage brands are reinterpreting tradition for a more aware and emotionally driven consumer.
Customers can pre-book their favourite jewellery by paying just 10% in advance & get their jewellery on Akshaya Tritiya at the lowest rate, which gives customers more flexibility and helps them plan their purchases with greater confidence, especially at a time when gold prices are high.
Akshaya Tritiya has traditionally been associated with intention, belief, and the aspiration for prosperity, extending beyond a purely transactional act of buying gold. The Ashtalakshmi Coin Collection has been conceptualised to reflect this deeper cultural and spiritual significance, with each coin designed to carry a distinct meaning and sense of purpose. The initiative also aligns with evolving consumer preferences, where there is a noticeable shift towards jewellery that offers emotional, cultural, and spiritual resonance in addition to intrinsic value.
With gold prices near record highs and consumer sentiment becoming more considered, Bhima’s Ashtalakshmi Coin Collection signals a broader shift in the category — from price-led promotions to meaning-led engagement, where design, storytelling, and cultural relevance drive both differentiation and demand.
As legacy brands navigate a new era of conscious consumption, Bhima Gold’s latest offering highlights how tradition can be reimagined as experience, making gold buying not just an act of investment, but an expression of identity and belief.
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