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India hikes import tax on precious metals

India’s Gem & Jewellery Export Promotion Council (GJEPC) has expressed disappointment with the nation’s latest Union Budget, adding that failure to reduce high duties on gold and diamonds will result in further job losses.

Trump’s tariffs taunting to Indian diamond industry

Following the United States’ decision – by means of a decree by President Donald Trump- to withdraw benefits under the Generalised System of Preference (GSP), the price of polished diamonds exported by India to the US will increase with seven to eight percent, according to rating agency CRISIL.