India-US Trade Agreement Spurs Optimism in Gem, Jewellery and Textile Sectors

The recent India-US trade agreement has been well-received by India's gem and jewellery industry, alongside textile traders in Surat. The agreement promises tariff reductions, boosting export potential and granting Indian businesses a competitive edge. Industry leaders highlight the benefits of reduced tariffs and anticipate significant growth in exports.

The gem and jewellery industry has expressed optimism over the recently announced India-US trade agreement, anticipating substantial benefits for the sector. Rajesh Rokde, Chairman of the All India Gem and Jewellery Domestic Council, expressed satisfaction with the agreement, stating it addresses long-standing industry concerns.

Gujarat State President of the Jewellers Association, Nainesh Pachigar, echoed Rokde's sentiments, praising the move towards tariff elimination. He noted that previous high tariffs significantly impacted Indian jewellery exports to the US. The new agreement promises to revive the sector's market share.

In the textile sector, Ranganath Sharda, Secretary of Ashoka Market, hailed the agreement as transformative for Surat's textile industry. He cited the expected tariff reduction to 18 percent as a boon for exports, strengthening India's position against competitors from China and other countries.

(With inputs from agencies.)