Jayesh Patel, a diamond manufacturer and trader, believed that every country has its own policy, and as the US is a large market, the diamond industry will face certain challenges. He further stated that if the tariffs continue in the future then they will find markets in other countries.
He further hoped for a solution from the Union Government, stating that the gems and jewellery trade from Jaipur to the US is worth Rs 11 to 12 lakh crores.
The 50 per cent tariffs on imports from India to the United States came into effect on Wednesday after the U.S. Customs and Border Protection (CBP) published an official notice.
Georg Enzweiler, Deputy Head of Mission, German Embassy in India, said that Germany would always be in favour of reducing tariffs to the minimum levels, reacting to the reciprocal tariffs imposed by US President Donald Trump.
Micro, small and medium enterprises (MSMEs) in sectors such as textiles, diamonds and chemicals, which together account for nearly 45 per cent of India's total exports, are likely to be the most affected by the imposition of higher tariffs by the United States, according to a report by Crisi
Kwatra said he had a "productive discussion" with Rep. Pete Sessions, Chairman of the Congressional Sub-Committee on Governmental Operations, where the two sides exchanged views on energy security and the growing hydrocarbon partnership between India and the United States.
In an interview with ANI, Abrahms said he was not surprised by remarks from Pakistan's Army Chief Asim Munir, who made a nuclear threat from American soil. "I'm not surprised that Pakistani officials are engaging in sabre rattling and playing the nuclear threat card, we've heard that befo
US President Donald Trump on Monday claimed that American tariffs on India over its purchase of Russian oil had delivered a "big blow" to Moscow, saying, "No one would have been so tough and I haven't stopped there."
The US Federal Reserve will have to time its interest rate cuts carefully as new tariffs could push inflation higher next year, making policy choices over the next three to six months particularly crucial, according to a report by Union Bank of India.
Naidu also said that India would not "compromise or succumb to pressure from anybody" despite tensions with Washington over Russian crude purchases and the recent imposition of additional US tariffs on Indian goods.
Congress MP Sukhdeo Bhagat on Thursday criticised Prime Minister Narendra Modi's silence over the imposition of a 25 per cent additional tariff on Indian oil imports from Russia, and said that the US President himself continues to buy uranium and fertilisers from Russia.