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Fashion Value Chain
11-08-2025
- Business
- Fashion Value Chain
GJEPC Seeks Relief as US Tariffs Threaten Jewellery Exports
The US decision to impose a 50% tariff on all Indian goods has raised serious concerns for the Indian gem and jewellery industry. As the US accounts for over $10 billion in exports—nearly 30% of the sector's global trade—the move could disrupt supply chains, halt exports, and impact thousands of livelihoods. The dependency on the US market is significant: 85% of exports from SEEPZ SEZ (employing 50,000 people) and half of India's cut and polished diamonds are US-bound. Competing hubs like Turkey, Vietnam, and Thailand face much lower tariffs, putting India at a disadvantage and raising the risk of trade diversion via low-tariff countries. Despite the challenges, domestic demand remains strong. The success of IIJS Premiere 2025, with projected business of ₹70,000 crore–₹1 lakh crore, and the domestic market's expected growth from $85 billion to $130 billion within two years offer some cushioning. GJEPC is also expanding into new markets, including the upcoming Saudi Arabia Jewellery Exhibition (SAJEX). GJEPC Chairman Mr. Kirit Bhansali urges immediate government intervention through measures such as: Duty Drawback Scheme to reimburse 25–50% of new US tariffs for August–December 2025 exports. Financial Support for Market Diversification , including MAI funding for SAJEX and a planned India Jewellery Exposition Centre in Saudi Arabia. Interest Deferment on working capital loans for six months. Reverse Job Work & DTA Sales permissions for SEZ units to maintain operations and retain 1.25 lakh workers. Pre-Shipment Finance Relief with extended loan due dates. Interest Equalisation Scheme reinstatement for competitiveness, especially for MSMEs. Relief/Liquidity Packages similar to Covid-era measures. Stable Credit Ratings for the sector during the slowdown. Mr. Bhansali affirms the industry's solidarity with the Government of India, emphasising its commitment to protecting trade integrity and national economic interests during this crisis.
New Indian Express
11-08-2025
- Business
- New Indian Express
Trump's 50 per cent tariff threat puts India's gem and jewellery exports at risk: GJEPC chief Kirit Bhansali
MUMBAI: The announcement of a sweeping 50% tariff on all Indian goods by the United States is a deeply concerning development and blanket tariff of this magnitude is severely devastating for the sector, Kirit Bhansali, Chairman of Gem & Jewellery Export Promotion Council (GJEPC) said on Monday. The United States is industry's single largest market, accounting for over $10 billion in exports, nearly 30% of their total global trade. 'There is significant dependency on the US market, as 85% of exports from SEEPZ SEZ, which provides 50,000 jobs, is directed there. For cut and polished diamonds, half of India's exports are US-bound. With revised tariff hike, the entire industry may come to a standstill, placing immense pressure on every part of the value chain—from small karigars to large manufacturers,' said Bhansali. "What adds to the concern is that competing manufacturing hubs such as Turkey, Vietnam and Thailand continue to enjoy significantly lower tariffs of 15%, 20% and 19% respectively, making Indian products relatively less competitive in the US market. This imbalance, if unaddressed, could erode India's long-standing position as a key supplier to the US,' he added.
Time of India
07-08-2025
- Business
- Time of India
Trump's 50% tariff threat puts India's gem and jewellery exports at risk
With a revised tariff hike of 50 per cent by the Trump government, the entire gem and jewellery industry may come to a standstill, placing immense pressure on every part of the value chain—from small karigars to large manufacturers, said Kirit Bhansali, chairman of Gem and Jewellery Export Promotion Council . Bhansali said "The US announcement of a sweeping 50% tariff on all Indian goods is a deeply concerning development. This move would have far-reaching repercussions across India's economy—disrupting critical supply chains, stalling exports, and threatening thousands of livelihoods." Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program "The Indian gem and jewellery sector, in particular, stands to be severely impacted. The United States is our single largest market, accounting for over $10 billion in exports—nearly 30% of our industry's total global trade. A blanket tariff of this magnitude is severely devastating for the sector. There is significant dependency on the US market, as 85% of exports from SEEPZ SEZ, which provides 50,000 jobs, is directed there. For cut and polished diamonds, half of India's exports are US-bound. With revised tariff hike, the entire industry may come to a standstill, placing immense pressure on every part of the value chain—from small karigars to large manufacturers," he said. What adds to the concern is that competing manufacturing hubs such as Turkey, Vietnam and Thailand continue to enjoy significantly lower tariffs of 15%, 20% and 19% respectively, making Indian products relatively less competitive in the US market. This imbalance, if unaddressed, could erode India's long-standing position as a key supplier to the US, Bhansali added. Live Events "We are also concerned about the possibility of trade rerouting through low-tariff destinations such as Mexico, Canada, Turkey, UAE, or Oman—undermining the spirit of legitimate trade and impacting transparency,"the GJEPC chairman said. Despite these challenges, the Indian gem and jewellery industry remains resilient. The recent success of IIJS Premiere 2025, the world's largest jewellery fair, was a testament to strong domestic demand, with projected business ranging from ₹70,000 crore to ₹1 lakh crore. The domestic market—currently pegged at $85 billion—is expected to grow to ₹130 billion in the next two years. This domestic growth offers some cushion, particularly for the diamond sector. Simultaneously, GJEPC is actively exploring new markets. The upcoming Saudi Arabia Jewellery Exhibition (SAJEX) is one such initiative aimed at opening fresh avenues in emerging regions and diversifying India's export destinations. While we understand that no trade talks can happen in the current scenario, we urge the Government for immediate relief. We appeal for policy reforms and extensive support to aid the industry in these extraordinarily challenging times. As a responsible industry and as citizens of this nation, we are respectfully aligned and stand in solidarity with the Government of India. In these testing times, we remain committed to protecting the integrity of our trade and upholding the nation's economic interests with unity and resolve.
Time of India
07-08-2025
- Business
- Time of India
Jewellery industry anxious over Donald Trump's proposed 50% tariff on Indian imports
Trump on Wednesday signed an executive order imposing an additional 25% tariff on Indian exports to the US, citing India's ongoing Russian oil purchases. MUMBAI: India's bullion and jewellery industry has expressed anxiety over US President Donald Trump's proposed imposition of 50% tariff on imports from India. No less than 85% of SEEPZ SEZ jewellery manufactured in Mumbai is exported to the USA. The United States is India's single largest market, accounting for over $10 billion in exports, nearly 30% of Indian industry's total global trade. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai Rajesh Rokde, chairman, All India Gem and Jewellery Domestic Council (GJC), said, "The imposition of a 25% tariff on Indian gold jewellery exports already in effect and the additional 25% set to be enforced from Aug 27 represents a compounded blow to the sector. This steep escalation not only renders our products significantly less competitive in the US market, but more critically, it jeopardises the livelihoods of thousands of skilled artisans who depend on export demand for their survival. "These craftsmen, many from marginalised communities, are the backbone of India's jewellery ecosystem, preserving centuries-old techniques through small workshops and family-run enterprises," Rokde added. "A cumulative 50% tariff threatens widespread job losses, destabilises local economies, and risks eroding a rich cultural heritage. We urge the [Indian] govt to act swiftly and engage in trade negotiations that protect these livelihoods and uphold India's global leadership in handcrafted jewellery," Rokde added further. Avinash Gupta, vice chairman, GJC, said, "This tariff shock is also pressuring the Indian rupee, likely making gold costlier for domestic consumers and dampening demand within India, further straining the industry." Kirit Bhansali, chairman, GJEPC (Gem & Jewellery Export Promotion Council) said, "The US announcement of a sweeping 50% tariff on all Indian goods is a deeply concerning development. This move will have far-reaching repercussions across India's economy, disrupting critical supply chains, stalling exports, and threatening thousands of livelihoods. The Indian gem and jewellery sector, in particular, stands to be severely impacted. The United States is our single largest market, accounting for over $10 billion in exports, nearly 30% of our industry's total global trade. A blanket tariff of this magnitude is severely devastating for the sector." "There is significant dependency on the US market, as 85% of exports from SEEPZ SEZ, which provides 50,000 jobs, is directed there. For cut and polished diamonds, half of India's exports are US-bound. With revised tariff hike, the entire industry may come to a standstill, placing immense pressure on every part of the value chain, from small karigars (artisans) to large manufacturers." "What adds to the concern is that competing manufacturing hubs such as Turkey, Vietnam and Thailand continue to enjoy significantly lower tariffs of 15%, 20% and 19% respectively, making Indian products relatively less competitive in the US market. This imbalance, if unaddressed, could erode India's long-standing position as a key supplier to the US." "We are also concerned about the possibility of trade rerouting through low-tariff destinations such as Mexico, Canada, Turkey, UAE or Oman undermining the spirit of legitimate trade and impacting transparency."
Time of India
21-05-2025
- Business
- Time of India
Kalpataru Vivant's strategic location uplifts its potential for NRI investors
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India's present growth story is a fascinating investment prospect for non-resident Indians (NRIs). Factors such as evolving consumer preferences, regulatory reforms, etc., have increased the appeal of investing in Indian real estate. These homes serve as remunerative rent-generating assets, as presently, appreciation in India is higher than in other markets. So, whether it is for establishing a steady source of income, securing long-term capital appreciation, or expansion of investment portfolios, real estate has been an enticing asset infrastructural developments have further fuelled this interest. New metro lines and commercial hubs are enhancing connectivity, leading to increased demand for residential and commercial properties in these areas. For real estate investment, location is a crucial Vivant emerges as an investment-centric opportunity for NRIs, which is located in the rapidly developing Jogeshwari-Vikhroli Link Road (JVLR) corridor in Mumbai. What further drives the appeal of this project is the potential for viable property appreciation and exciting rental of the major roads that connects east and west, JVLR's proximity to the much-anticipated Mumbai Metro lines (Line 7, Line 6, and Line 3) is expected to lower people's commute time, provide better airport connectivity, and also connect to other parts of commercial hubs, including SEEPZ SEZ, NESCO IT Park, and Nirlon Knowledge Park, are also in JVLR's close vicinity, which further enhances its appeal as an apt residential choice for working is a premium gated residential community located in JVLR, Mumbai. It offers a range of 1, 2, and 3 BHK residences conceptualised to meet diverse needs. With 70% open spaces, landscaped greenery, and 40+ modern amenities, it combines luxury with nature-centric living in the heart of the city. The property is close to business and commercial hubs, industrial parks, renowned schools, hospitals, are accustomed to a new-age living experience, and Kalpataru Vivant measures up to these benchmarks effectively. Not only does the property pack contemporary amenities such as a business lounge, mini theatre, landscaped gardens, spa, net cricket, and more, but it also offers spacious designs and further serves as an investment with potential for returns and a better standard of rental yields are a compelling factor, capital appreciation is also where wealth generation lies. As Mumbai's infrastructure continues to develop, the necessity for residential and commercial properties could surge, leading to periodic property value increases. With significant developments on the anvil, Kalpataru Vivant's location offers potential for future value appreciation. It offers NRIs a blend of location and future growth know more about Kalpataru Vivant, click here The Project is RERA registered - P51800051328, P51800045360
