Scrapping Of US Tariffs To Accelerate Indian Exports & Employment: Industry Leaders

Indian industry leaders have welcomed the reported ruling of the US Supreme Court that invalidated recently imposed American tariffs.

They said the verdict would invigorate exports, reinforce bilateral trade relations and revive employment across key sectors.

Nainesh Pachchigar, Gujarat State President of the India Bullion and Jewellers Association, described the decision as a major relief for exporters.

He noted that the court struck down tariffs introduced under former US President Donald Trump, declaring them unlawful.

Pachchigar explained that although Trump had earlier reduced the import duty on diamonds to zero per cent after a trade understanding with India, diamond jewellery and allied segments continued to face elevated tariffs of nearly 18 per cent.

He stated that the removal of such duties across multiple countries would substantially benefit India’s gem and jewellery industry.

Pachchigar added that a complete withdrawal of tariffs, sustained over time, would drive export growth and deliver a robust stimulus to the sector.

He emphasised that increased outbound trade would also generate employment, particularly for small artisans and skilled craftsmen who rely heavily on jewellery manufacturing for their livelihoods.

Boost To Trade Competitiveness

Pachchigar cautioned that while the court has issued its order, the response of the US administration remains crucial.

He said observers must watch whether the government files a fresh affidavit or pursues additional legal remedies.

Rajesh Gandhi, Senior Vice President of the Gujarat Chamber of Commerce and Industry, also termed the development encouraging.

He remarked that reducing tariffs on Indian goods to 10 per cent would unlock expansion opportunities for diverse industries.

Rajesh Gandhi asserted that lower duties would enhance the competitiveness of Indian products in the American market.

He identified textiles, trading enterprises and manufacturing units as principal beneficiaries.

Representatives from textile and trading bodies echoed similar views. They argued that a uniform 10 per cent tariff regime across nations would establish parity in global trade.

They maintained that such rationalisation would strengthen commercial flows, sharpen India’s competitive edge and consolidate its standing in the US marketplace.

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