Gems & Jewellery Exporters Seek RBI Relief On Loan Repayments Amid US Tariff Impact

New Delhi, Aug 27 (KNN) With the US imposing a 50 percent tariff on Indian goods from Wednesday, the gems and jewellery sector — one of the worst-affected sectors — has sought relief from the Reserve Bank of India (RBI) on repayment of bank loans.

In a virtual meeting with RBI officials on Monday, industry representatives flagged concerns over delayed payments from American buyers and potential disruption in supply chains.

“We have said there will be disruption in receiving payments as new goods will not be supplied, and there could be delays in payments. In that case, banks should give us some relief on repayments of loans,” said Kirit Bhansali, Chairman, Gems & Jewellery Export Promotion Council (GJEPC).

“We told them that people in this sector are working very cautiously. We requested some relief from banks in terms of repayments,” Bhansali told Business Standard.

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