Editor’s Note
The recent doubling of US tariffs on Indian gems and jewellery to 50% presents a significant challenge for one of India’s key export sectors. This article highlights the urgent need for market diversification to safeguard an industry that contributes nearly $30 billion in annual exports.
Gems and Jewellery is India’s fifth-largest export item, with goods worth nearly $30 billion shipped to key markets in FY25.
With US tariffs on Indian gems and jewellery doubling to 50 percent, exporters face the urgent task of finding alternative markets for one of the country’s most valuable exports.
The stakes are high. India sold nearly $10 billion worth of gems and jewellery to the US in FY25, with diamonds alone accounting for $7–8 billion. That concentration leaves the industry vulnerable, making diversification critical as the tariff wall rises.
