New Delhi, Feb. 11 -- India's gems and jewellery industry is celebrating a significant breakthrough following the announcement of the India-US Interim Trade Agreement, which promises to eliminate high trade barriers and rejuvenate exports. Industry leaders and exporters have expressed relief as the deal addresses the tariff hikes that had previously hampered the sector's global competitiveness.

Commenting on the development, Kirit Bhansali, Chairman of the Gem and Jewellery Export Promotion Council (GJEPC) India, said it is a joyous moment for the entire gems and jewellery sector.

"After the 50% tariff, my sector was severely affected, but this is good news."

The agreement is expected to provide a direct boost to various segments of th...