Brief by Shorts91 Newsdesk / 05:16am on 01 Aug 2025,Friday Business
Over 1 lakh jobs in India’s gem and jewellery industry are at risk following the US’s decision to impose a 25% tariff on Indian jewellery exports starting August 1, 2025. The United States is a key market, accounting for nearly 30% of India’s jewellery exports, worth around $9.9 billion. Industry experts warn that the new tariffs will significantly reduce demand from US buyers, increase costs by 15%, and lead to mass order cancellations. Handmade and small-scale jewellery units are expected to be worst hit, with fears of factory shutdowns and large-scale unemployment looming. (PC: ANI)
