Latest news with #HRDAntwerp
Time of India
08-08-2025
- Business
- Time of India
‘Tariffs imposed by Trump may have short-term impact'
Kolkata: Europe's leading diamond certification authority HRD Antwerp — which has opened a new office in Kolkata — opined on Friday that tariffs imposed on India by the President Donald Trump-led US govt might not continue for long. While the tariffs destabilise India's exports to the US, HRD Antwerp sees opportunity amid the turbulence. On the sidelines of the launch event, HRD Antwerp global marketing, sales & education director Tom Neys said: "Needs to be seen how long it continues... Policies like Trump tariff can change very fast, but if such high duties continue, exporters may reroute their consignments from other markets to protect margins." Noting that HRD Antwerp was strongly positioned in Europe and the Middle East — regions that could become more attractive for Indian exporters seeking alternative destinations for exports of certified diamond jewellery — Neys added: "Nearly 60% of diamonds in India — whether loose or set in jewellery — remain uncertified. But that's changing with growing consumer awareness. Certification will only grow in importance. " You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata President of Calcutta Gems and Jewellery Association Ashok Bengani said tariffs imposed by Trump were not sustainable and seemed to be a short-term concern. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Raksha Bandhan wishes , messages and quotes !
News18
08-08-2025
- Business
- News18
Tariff imposed by US may change very fast: Diamond certifying agency HRD Antwerp
Kolkata, Aug 8 (PTI) As uncertainty looms over the high tariff imposed by the US targeting Indian exports, including diamonds and jewellery, to America, Europe's leading diamond certification authority, HRD Antwerp, on Friday wondered about the longevity of such policies and expected them to change very fast. The agency, however, sees opportunity amid the turbulence and has expanded its India presence by opening a new office in Kolkata. Speaking on the sidelines of the launch event, Tom Neys, Global Marketing, Sales & Education Director at HRD Antwerp, said, 'It needs to be seen how long it continues. Policies like the Trump Tariff can change very fast, but if such high duties continue, exporters may begin rerouting their consignments from other markets to protect margins. He noted that HRD Antwerp is strongly positioned in Europe and the Middle East—regions that could become more attractive for Indian exporters seeking alternative destinations for exports of certified diamond jewellery. Industry voices have termed the tariff proposal as a 'doomsday" move for India's gems and jewellery sector, which relies heavily on exports. Local exporters believe that in this evolving trade scenario, certification will play a pivotal role in ensuring market access and consumer trust. 'Nearly 60 per cent of diamonds in India—whether loose or set in jewellery—remain uncertified. But that's changing with growing consumer awareness. Certification will only grow in importance," Neys said. Against this backdrop, HRD Antwerp inaugurated its new facility in Kolkata on Friday to cater to Eastern India's gem and jewellery sector. 'In this time of global uncertainty, HRD Antwerp's expansion to Kolkata demonstrates our long-term commitment to India," Neys said. The centre will offer grading and certification services for both natural and lab-grown diamonds, as well as finished jewellery. President of the Calcutta Gems and Jewellery Association, Ashok Bengani, said that the tariffs are not sustainable, and it seems to be a short-term concern which will get ironed out diplomatically. 'The presence of world-class certification services in Kolkata will empower local businesses and reinforce consumer confidence," Bengani Director of HRD Antwerp India, Ramakant Mitkar, said they currently operate major labs in Antwerp, Dubai, and Mumbai, with regional branches in Surat, Delhi, Jaipur, and now Kolkata. However, they will expand to Hyderabad and Bangalore by the end of this year. The move is expected to support exporters in navigating tighter global trade conditions while boosting Eastern India's standing in the global gems and jewellery market. PTI BSM NN view comments First Published: August 08, 2025, 16:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
