With the removal of American tariffs, exports will increase, employment will gain momentum!

Speaking to news agency IANS, Gujarat State President of India Bullion and Jewelers Association (IBJA) Nainesh Pachchigar said that the industry has welcomed the decision of the US Supreme Court in which the tariffs imposed by US President Donald Trump have been declared illegal and cancelled.

He said although Trump had reduced the import duty on diamonds to zero after the trade deal with India, the diamond jewelery and related sectors are still facing high duty of around 18 per cent. In such a situation, this decision will reduce the duty on this segment.

According to Pachchigar, the US court’s decision is good for the entire Indian gems and jewelery sector. “If the tariffs are completely withdrawn and this situation persists for a long time, it will increase Indian exports and provide a strong boost to the industry,” Pachchigar said.

He further said that the increase in exports will also help in employment generation, especially for small artisans and craftsmen who depend on this sector for their livelihood.

Pachchigar further said that although the court has passed its order, it remains to be seen how the US government reacts to it and whether it files a fresh affidavit or takes any further legal steps.

Rajesh Gandhi, senior vice president of Gujarat Chamber of Commerce and Industry, also described this development as positive. He said that if the tariff on India is reduced to 10 percent, it will create growth opportunities for many industries.

“Lower tariffs will make Indian goods more competitive in the US market and give a boost to sectors like textiles, trade and manufacturing,” Gandhi told IANS.

Trade representatives from the textile and trading sectors also echoed similar sentiments, saying a uniform 10 per cent tariff across all countries would provide a level playing field for all.

They believe that this move will improve trade flows, increase competition and strengthen India’s position in the US market.