One more blow! US reciprocal tariffs likely to have an adverse impact on Indian gems and jewellery sector

India's gems and jewellery sector is highly dependent on exports, with the US being a major market. In FY 2023-2024, India's total exports of gems and jewellery stood at $32.85 billion, with $9.95 billion directed to the US, accounting for 30.29% of the sector's exports.

Apr 3, 2025 3

One more blow! US reciprocal tariffs likely to have an adverse impact on Indian gems and jewellery sector
India's gems and jewellery sector is highly dependent on exports, with the US being a major market. In FY 2023-2024, India's total exports of gems and jewellery stood at $32.85 billion, with $9.95 billion directed to the US, accounting for 30.29% of the sector's exports.
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