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Time of India
30-07-2025
- Business
- Time of India
US tariff blow stuns gem and textile sectors
Surat: India's gem, jewellery, and textile industries have been jolted by the United States' sudden announcement of a 25% tariff and penalty on Indian exports. The decision has disrupted ongoing business, with stakeholders expressing concern over blocked orders and halted production. The industry was expecting an extension of the tariff deadline, but the announcement has now cast uncertainty over trade commitments made earlier this year. "Manufacturing for orders booked during the June 2025 JCK Las Vegas exhibition is already underway. These orders may now be blocked due to the new tariff and penalty," said Amit Korat, president of the Surat Jewellery Manufacturers Association (SJMA). The Las Vegas show, known as the world's largest jewellery exhibition, typically generates fresh business for manufacturers worldwide for the next seven to eight months. However, the latest US tariff decision is expected to put the already struggling diamond trade under significant pressure. "The announcement is not yet official, and we are waiting for a notification to come. We hope that there will be a reduction in the tariff considering the overall market conditions," said a Gem and Jewellery Export Promotion Council (GJEPC) official. "It is going to hurt severely if the announced tariff and penalty come into force. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo The US is the largest market for polished diamonds in Surat, and our industry will be under tremendous pressure," said a leading diamond manufacturer. Leaders in the textile sector are concerned about rising export costs and declining demand. "Exporters are already getting calls to put textile and garment shipments to the US on hold. These were orders scheduled to be dispatched soon," said an official from the Manmade and Technical Textiles Export Promotion Council (MATEXIL). "With a 25% price hike, the end consumer in the US is unlikely to buy, and no fresh orders are expected for some time. " The US is a key market for India's home textile exports, and the sudden tariff announcement has caught the industry off guard. "Business was proceeding as usual until today. Exporters were receiving inquiries as recently as last week. We had hoped the tariff implementation would be delayed, allowing time for further discussions," said an industry official. Textile manufacturers from the city were hoping for better business opportunities with the US since there is already a higher tariff rate for China. "But now, with a 25 percent tariff and penalty, the situation has become challenging for Indian textile exporters as well. The countries where the tariff is lower are at an advantage," said Vijay Mevawala, former president, Southern Gujarat Chamber of Commerce and Industry (SGCCI).
Time of India
14-06-2025
- Business
- Time of India
Centre defers QCO on textile machinery to 2026
Surat: The ministry of heavy industries, Govt of India, has extended the implementation of the Quality Control Order (QCO) on textile machinery to Sept 2026. The QCO was earlier scheduled to be enforced from August 2025, but various industry stakeholders, including textile manufacturers, had raised concerns. On August 28, 2024, the ministry had issued the Machinery and Electrical Equipment Safety (Omnibus Technical Regulation) Order 2024, making the QCO mandatory for weaving and embroidery machines, including their assemblies and sub-assemblies. The Southern Gujarat Chamber of Commerce and Industry (SGCCI), under the leadership of its immediate past president Vijay Mevawala, had made several representations to the Centre. "This will benefit the industry, and the growth cycle will continue in the textile sector in the region. We thank the govt for considering trade and industry's viewpoint," said Mevawala. SGCCI president Nikhil Madrasi added, "This decision enables Indian manufacturers to produce high-speed weaving and embroidery machinery on par with imported ones, furthering the ' Make in India ' vision." Recently, SGCCI vice-president Ashok Jirawala, former president Ashish Gujarati and other industrial bodies met Union minister for heavy industries HD Kumaraswamy in New Delhi to urge deferment of the QCO. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Dividend Stocks for May 2025 Seeking Alpha Read Now Undo They argued that Surat, the country's largest MMF textile hub, annually imports 2,500 to 4,000 high-speed weaving and embroidery machines, many of which are not yet made domestically. Given that MMF continues to dominate textile investments — particularly in waterjet, airjet, and rapier machines — the industry had sought time until domestic manufacturing capacity matched import quality. The Centre's latest decision comes as a major relief for the sector. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
