Surat: The US government’s decision to impose a 27% reciprocal tariff on Indian exports is expected to have a severe impact on Surat’s textile and diamond jewelry industry. The US has withdrawn the Most Favored Nation (MFN) status granted to India in the gem and jewelry sector and has imposed tariffs of 27% on cut and polished diamonds, 27% to 34.4% on polished lab-grown diamonds and synthetic stones, 32% to 34% on gold and platinum jewelry, 32% to 40.5% on silver jewelry, 30% to 34.9% on g...Read More

Surat: Export of Gems and Jewellery from the Special Economic Zone in Surat was down by Rs. 12,765 crore in financial year 2023-2024 compared to 2022-2023 due to slow down in China, America and European countries. Export of Diamond Gems and Jewelery from Surat SEZ was Rs. 16,000 crore plus in 2020-21, Rs. 20,000 crore plut in 2021-22, Rs. 26,500 crore plus i 2022-23 and Rs. 13,700 crore plus in 2023-24. The export of Diamonds, Gems and Jewellery is likely to go further down in 2024-25. Des...Read More

Amreli: Diamond units in Amreli district have declared Diwali vacation from 26 October for a one-month period. Due to the slowdown pertaining to the Israel War, around one-third of the total 960 units are already non-functional, while the other units are working for limited hours. While the vacation will start on October 26th, the date of reopening is not declared by diamond units. Amreli district has over 402,000 workers employed in diamond units. DeshGujaratRead More