Reported about 22 hours ago
India's $32 billion gems and jewellery industry faces a significant decline in exports due to a new 26% tariff imposed by the US, its largest market, which accounts for about 30.4% of India's jewellery exports. Industry leaders express concern over the severe impact on overseas sales, especially following a recent dip in demand from China. While hopes remain for a potential trade deal between India and the US, the sector is bracing for tough times ahead.
Source: YAHOO