GJEPC Briefs PM’s Principal Secretary on Urgent US Tariff Relief Measures

AABHUSHAN WORLD NEWS:
GJEPC Pushes for US Tariff Relief in High-Level Meeting with PM's Office
Vinod Verma: New Delhi, 14 April 2025 — In a significant move to shield India’s gem and jewellery sector from rising US tariffs, the Gem & Jewellery Export Promotion Council (GJEPC) has made a formal representation to the Government of India. Sponsored by the Ministry of Commerce & Industry, a high-level delegation led by Shri Kirit Bhansali, Chairman, GJEPC, met with Shri Shaktikanta Das, Hon’ble Principal Secretary to the Prime Minister, to discuss the sector’s pressing demands within the framework of the proposed Bilateral Trade Agreement (BTA) with the United States.
Joining Shri Bhansali were Shri Shaunak Parikh, Vice Chairman, GJEPC; Shri Anoop Mehta, Co-Convener, Diamond Panel and President of Bharat Diamond Bourse; Shri Adil Kotwal, President of SGJMA; and Shri Sabyasachi Ray, Executive Director, GJEPC.
Key Proposals Put Forward:
Inclusion of diamonds and coloured gemstones in the U.S. Ad Valorem Reciprocal Tariff Notification (Annexure II) to protect them from increased duties.
Capping US import duties on jewellery at 10%, including all components.
Reciprocal concessions for gold and silver bullion imports from the US, similar to those granted to the UAE under CEPA. 6-10% tariff relief on US jewellery imports into India under the BTA to ensure balanced trade.
Fast-tracking duty relief under the Early Harvest component of the BTA, as a three-month grace period before reciprocal tariffs takes effect threatens to disrupt the industry.
Shri Shaktikanta Das assured the delegation that the Government of India will actively consider the sector’s concerns and take up the matter with the US Government during bilateral discussions.

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