Overview
- Under Section 3 of the agreement, diamonds and gemstones now enter the US at zero duty, a change industry groups describe as a major boost to market access.
- Dinesh Lakhani of Kiran Gems and Rajiv Jain of Sambhav Gems say the move helps revive exports that had been badly hit, with more than half of US-bound shipments previously stalled.
- Avinash Gupta of the GJC notes jewellery still attracts about 24% duty and urges negotiators to bring finished pieces under the zero-duty framework in future rounds.
- Exporters report US retailers are reopening sourcing channels to India, and one industry projection suggests shipments to the US could nearly double versus the past 18 months.
- The relief is expected to support India’s cutting and polishing hubs, with Surat’s artisans and Jaipur’s gemstone exporters reporting renewed enquiries and fresh orders.