Editor’s Note
This article highlights the optimism within the gem and jewelry sector following a landmark trade agreement between India and the United States, which is expected to significantly boost exports to a key market.
The recent trade agreement between India and the United States has filled the gem and jewelry industry with enthusiasm. Business leaders are calling it historic, stating it will open up the high-value American market and accelerate exports.
Kiran James, CEO of Denesh Lakhani, said:
More than half of India’s gem and jewelry exports go to the USA, but last year faced tariff barriers. Now, with American tariffs set to zero, the path to the large market is clear.
American jewelers will now source directly from India. Lakhani explained that India is no longer just a service economy; its position has been solidified through strategic agreements like the UK-EU deals. This will help realize the vision of a developed India by 2047. Compared to the last decade, American exports are expected to double.
Sambhav James, Chairman of Jaipur’s Cheyermain Rajeev Jain, stated:
This agreement will take the sector to new heights, increase employment, and strengthen global competitiveness.
