Gold Market in Turmoil: Tariffs Threaten Indian Jewellery Exports
Gold Market in Turmoil: Tariffs Threaten Indian Jewellery Exports Posted by Niilesh waghela Mumbai: The imposition of a 25% tariff on Indian gold jewellery exports, compounded by an additional 25% set to take effect from August 27, has sent shockwaves through the industry. According to Rajesh Rokde, Chairman of the All India Gem and Jewellery Domestic Council (GJC), this steep escalation will not only make Indian gold jewellery less competitive in the US market but also jeopardize the livelihoods of thousands of skilled artisans. Impact on Artisans and Small Workshops The tariff hike is expected to have a devastating impact on small workshops and family-run enterprises that preserve centuries-old techniques. Many of these artisans are from marginalized communities, and the loss of export demand could lead to widespread job losses and destabilize local economies. Avinash Gupta, Vice Chairman of the GJC, emphasized that the tariff shock could also pressure the Indian Rup...