A delegation from the Gem & Jewellery Export Promotion Council (GJEPC), led by Chairman Kirit Bhansali, Vice Chairman Shaunak Parikh, and Executive Director Sabyasachi Ray, met Hon’ble Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman today to seek immediate relief for the industry, which has been severely hit by the 50% tariff imposed by the United States.
Following the meeting, Mr. Bhansali expressed optimism about the resumption of India–U.S. trade talks but stressed the need for interim support until a resolution is reached. “Relief measures are critical to sustain operations and protect livelihoods. We have requested steps such as permitting SEZ units to undertake reverse job work and DTA sales, extending export obligation timelines for U.S. shipments, and granting an interest moratorium on packing credit and working capital loans. These interventions will help safeguard jobs and preserve the competitiveness of Indian exporters,” he said, while thanking the Finance Minister for past GST reforms benefitting the sector.
The Council further urged recognition of the India Jewellery Park as an industrial park under the Harmonised Master List of Infrastructure, enabling access to associated benefits.
The Finance Minister assured the delegation of the government’s full support, reiterating its commitment to protecting employment, sustaining exports, and ensuring the competitiveness of India’s gem and jewellery sector during these challenging times.