New Delhi’s business leaders are celebrating a landmark ruling from the US Supreme Court that has struck down tariffs imposed by former President Donald Trump. This decision is set to supercharge India’s export sector, particularly in gems, jewelry, textiles, and manufacturing, while creating thousands of new job opportunities.
Nainesh Pacchigar, Chairman of the India Bullion and Jewellers Association (IBJA) for Gujarat, hailed the verdict as a game-changer. The court declared Trump’s tariffs illegal, paving the way for reduced duties on diamond jewelry and related products, which currently face up to 18% levies despite zero tariffs on raw diamonds following a US-India trade pact.
“This ruling benefits the entire Indian gems and jewelry industry,” Pacchigar stated. He emphasized that full tariff elimination would drive export growth, providing a strong impetus to the sector. Increased exports mean more employment, especially for small artisans and craftsmen who rely on this industry for their livelihoods.
Pacchigar cautioned that the US government’s response remains uncertain—whether it will appeal or file new affidavits could shape the future. Meanwhile, Rajesh Gandhi, Senior Vice President of the Gujarat Chamber of Commerce and Industry, called the development highly positive. Reducing tariffs to a uniform 10% across countries would open growth avenues for multiple sectors.
“Lower tariffs will make Indian goods more competitive in the US market, accelerating textiles, trade, and manufacturing,” Gandhi told reporters. Textile and trade representatives echoed this optimism, noting that equal 10% tariffs for all nations would level the playing field, enhance trade flows, boost competition, and solidify India’s position in America.
This ruling comes at a critical time for India’s export-driven economy, promising not just revenue gains but also a ripple effect on employment and industrial confidence. As stakeholders monitor Washington’s next moves, the immediate outlook is one of renewed vigor and opportunity.