India’s gold jewellery sector is reeling from U.S. plans to impose a total 50% tariff, following an additional 25% levy to be applied on August 27 atop the existing 25% rate. This escalation has industry leaders warning of dire consequences: “A cumulative 50% tariff threatens widespread job losses, destabilizes local economies, and risks eroding a rich cultural heritage,” said Rajesh Rokde, Chairman of the All India Gem and Jewellery Domestic Council.
Artisans, many from marginalised communities in small workshops and family-run businesses, are particularly at risk. Vice Chairman Avinash Gupta emphasised that the new tariffs could not only undermine global competitiveness but also strain the Indian Rupee and reduce domestic consumption of gold jewellery.
With gems and jewellery exports targeting USD 11 billion to the U.S.—a significant share of India’s USD 22 billion total exports—this tariff blow may derail growth projections aimed toward USD 100 billion by 2027.
The industry is urging swift government action to engage in trade negotiations and consider protective measures that can safeguard artisan livelihoods. Supportive policy intervention could preserve both a vital export sector and India’s reputation as a global centre for handcrafted jewellery excellence.
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