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Below the Perspective on 'the steep fall in exports to the U.S. is a concern for India`s gems and jewellery industry for the short term' by Mr. Colin Shah, MD, Kama Jewelry

The steep fall in exports to the U.S. is a concern for India’s gems and jewellery industry for the short term. The American market is one of our biggest export destinations, and the imposed higher tariffs make our products less competitive for exports. Many small and medium exporters are already feeling the pinch. In the short term, margins will be under pressure. It’s important that both governments work towards a more balanced trade environment. India is the world's largest hub for diamond cutting and polishing, handling 9 out of every 10 diamonds processed globally. The focus now is on tapping new and emerging markets, investing in design innovation, and enhancing value addition to maintain our leadership in the global jewellery trade. With continued government support and industry collaboration, we are confident India will not only recover but expand its global footprint in the coming years.

Having said that, we firmly believe that the industry will adapt by exploring alternative markets, improving efficiency, and focusing on design and value addition. Exploring opportunities in countries like China and BRICS nations, as well as other emerging and developed markets, can open up new revenue streams. We hope the government will expedite the long-delayed SEZ reforms and implement measures that boost e-commerce globally, as the industry must urgently diversify its market.

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