mumbai/bengaluru, Jan. 28 -- The European Union's (EU) decision to scrap import duties on Indian gems and jewellery could partly offset the impact of steep US tariffs, experts said. The EU currently levies import duties of 2.5-4% on finished jewellery-studded, plain, and imitation-from India, which will be eliminated under the India-EU free trade agreement (FTA) announced on Tuesday. The deal is expected to take effect from early 2027, per trade experts. The timeline reflects the size of the EU market and the fact that similar agreements with Australia and the UAE took between six months and one year to take effect. India currently enjoys a small trade advantage in gems and jewellery with the EU. In 2024, India's overall gems and jewellery ...