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, strengthen trade ties with the United States, and unlock a wave of new job opportunities across key industries.
Nainesh Pacchigar, Chairman of the Gujarat State Chapter of the India Bullion and Jewellers Association (IBJA), hailed the verdict as a game-changer for the gems and jewellery industry. ‘The court’s declaration of these tariffs as illegal removes a major hurdle,’ he stated. While Trump had zeroed out duties on rough diamonds following trade negotiations with India, finished jewellery still faced steep 18% levies. Now, with these barriers crumbling, exporters anticipate a significant drop in costs.
Pacchigar emphasized the broader impact: ‘Full tariff reversal will propel Indian exports skyward and provide lasting momentum to our sector.’ He highlighted how surging exports would create jobs, especially for the army of small artisans and craftsmen whose livelihoods depend on this vibrant industry.
Industry watchers note that while the court has spoken, the US government’s next moves remain uncertain—whether they’ll appeal or file new affidavits could shape the final outcome. Yet optimism prevails.
Rajesh Gandhi, Senior Vice President of the Gujarat Chamber of Commerce and Industry, echoed these sentiments, predicting growth across multiple sectors if tariffs drop to a uniform 10%. ‘Lower duties will make Indian goods fiercely competitive in the US market, accelerating textiles, trade, and manufacturing,’ Gandhi told reporters.
Textile and trade representatives agree, arguing that a level playing field with equal 10% tariffs for all nations will streamline trade flows, intensify competition, and cement India’s foothold in America. This ruling arrives at a pivotal moment, potentially reshaping bilateral trade dynamics for years to come.