India's $32 billion gems and jewellery industry faces export challenges as the U.S. imposes a 26% tariff. This affects India's biggest market, where it sends nearly $10 billion in goods annually. Industry experts hope a new bilateral trade deal could ease the impact.

India’s $32 billion gems and jewellery industry faces a sharp decline in exports due to new U.S. tariffs, impacting its position as the global leader. The tariffs, higher than expected, threaten to reduce the industry’s exports to its largest market,

Indian textiles, engineering goods, electronics, and gems and jewellery sector exporters are expected to hit hardest by the tariffs announced by Donald Trump according to experts.US President Donald Trump has announced a 26 per cent tariff on Indian imports.