07 Feb 2026 | 5 Mins Read
US to lift tariffs on Indian gems and diamonds after interim agreement
Flipitmoney
The US will remove reciprocal tariffs on gems and diamonds with India upon the conclusion of the interim agreement. This move will help India's gems and jewellery sector, their largest export market, which contributed 30% of industry sales, bringing relief after tariffs doubled US duties on Indian exports to 50% and causing a 44.42% year-on-year decline in exports.