Industry Optimistic as US-India Trade Talks Near Final Phase Despite Weak October Numbers
Tariff: The decline in gems and jewelry exports and imports is primarily due to US tariffs, along with weakening demand in the US, Europe, and China due to slower economic growth, higher interest rates, and cautious consumer spending. Despite these challenges, the upcoming wedding season in the domestic market and the holiday season in Western markets are expected to improve orders and business activity.
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