India, April 4 -- US President Donald Trump's 26% adjusted reciprocal tariff on Indian imports is expected to adversely impact India's gems and jewellery industry and deepen the crisis in India's diamond polishing industry.

The United States accounted for roughly 30% of India's gems and jewellery exports, valued at approximately $10 billion annually in 2023-24. Diamonds, natural and lab-grown, make up for a huge chunk of the sector's exports.

Kirit Bhansali, chairman of Gems and Jewellery Export Promotion Council of India (GJEPC), warned that the 26% tariff, which would be imposed on Indian gem and jewellery exports when Trump's reciprocal tariffs kick in, would place a significant burden on both Indian exporters and American consumers....