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US Tariff Removal to Boost Indian Exports, Jobs: Industry Cheers

Indian industry leaders have welcomed a US Supreme Court decision declaring former President Trump's tariffs illegal, stating its removal will significantly boost exports. Sectors like gems, jewellery, textiles, and manufacturing are poised to become more competitive in the US market. The move is expected to revive employment, particularly benefiting small artisans and craftsmen dependent on these industries. While the court order is positive, its implementation depends on the US government's subsequent legal steps.

Key Points: US Tariff Removal to Boost Indian Exports & Jobs

  • US court strikes down Trump-era tariffs
  • Boost for gem & jewellery exports
  • Textile & manufacturing sectors to gain
  • Expected rise in employment for artisans
2 min read

Removal of US tariffs will boost Indian exports and jobs: Industry leaders

Indian industry leaders welcome US court ruling against tariffs, predicting a major boost for exports in gems, textiles, and job creation.

"If tariffs are completely withdrawn... Indian exports will rise and the industry will receive a strong push. - Nainesh Pachchigar"

New Delhi, Feb 21

Welcoming the reported US Supreme Court order striking down recently imposed tariffs, Indian industry representatives on Saturday said the move would significantly boost exports, strengthen trade ties and revive employment across sectors.

Speaking to IANS, Nainesh Pachchigar, Gujarat State President of the India Bullion and Jewellers Association (IBJA), said the industry has welcomed the US Supreme Court's decision that declared the tariffs imposed by former US President Donald Trump as illegal and set them aside.

He said that although Trump had earlier reduced import duty on diamonds to zero per cent following a trade understanding with India, diamond jewellery and related sectors were still facing higher tariffs of around 18 per cent.

"The court's decision to remove tariffs imposed on multiple countries is a positive development for India's gem and jewellery sector," he told IANS.

"If tariffs are completely withdrawn and the situation continues for a longer period, Indian exports will rise and the industry will receive a strong push," Pachchigar stated.

He added that higher exports would also help generate employment, especially for small artisans and craftsmen who depend on the sector for their livelihood.

Pachigar further said that while the court has passed its order, it remains to be seen how the US government responds and whether it files any fresh affidavit or takes further legal steps.

Rajesh Gandhi, Senior Vice President of the Gujarat Chamber of Commerce and Industry, also described the development as positive.

He said that if tariffs on India are reduced to 10 per cent, it will create growth opportunities for multiple industries.

"Lower tariffs will make Indian goods more competitive in the US market and provide momentum to sectors such as textiles, trading and manufacturing," Gandhi told IANS.

Business representatives from the textile and trading sectors echoed similar sentiments, saying that uniform 10 per cent tariffs across countries would create a level playing field.

They believe that such a move would improve trade flows, enhance competitiveness and strengthen India's position in the US market.

- IANS

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Reader Comments

S
Sarah B
As someone who follows international trade, this is a significant step. A level playing field with uniform tariffs is crucial. It will be interesting to see how the US administration responds legally and politically.
R
Rajesh Q
Textiles, manufacturing, gems... this is a boost for so many MSMEs. Hope the benefits actually trickle down to the workers and craftsmen and aren't just absorbed by big exporters. The government should ensure proper monitoring.
P
Priya S
While this is positive, we must be cautiously optimistic. As Mr. Pachchigar said, the US government's next move is key. Our industries need stable, long-term policy, not temporary relief. Let's hope for the best!
M
Michael C
Good for global trade. Lower tariffs reduce costs for American consumers too. It's a win-win when trade barriers come down based on legal principles, not political whims.
K
Kavya N
My father works in a diamond polishing unit in Gujarat. The uncertainty over the last few years has been very stressful. This news brings some hope for job security and better wages. Fingers crossed!

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