kristin
08-25-2006, 01:43 PM
IDCA fights to keep Indian goods duty-free
By Joseph Dobrian
AUGUST 24, 2006 - Washington -- Members of the Indian Diamond and Colorstone Association (IDCA) are on their way to Washington, D.C., next week to lobby for the renewal of an agreement that allows duty-free imports of specified products, including diamonds and jewelry, from developing countries.
The Generalized System of Preferences (GSP) agreement is up for renewal at the end of 2006, but there appears to be considerable support among members of Congress for removing or reducing many countries' benefits.
Several members of Congress have noted the failure of certain countries— including India—to open their markets to American exports. However, many Indian businesspeople insist that imposition of duties on Indian stones and jewelry could seriously damage American jewelers' bottom lines.
"We feel that the stones and jewelry that come from India are much needed in the American market," Basant Johari, president of Kuber Jewelry in New York and past president of IDCA, told NATIONAL JEWELER Thursday. "Gold and diamond prices have experienced dramatic rises recently, and these products are labor-intensive. If a duty is imposed on them, it might be hard for buyers to absorb, and the industry might be hurt."
The Office of the United States Trade Representative (USTR) has invited public comment, and the IDCA is asking people in the jewelry industry to write to the organization via its Web site, www.USTR.gov.
"But time is short. If you want Indian stones to continue to enjoy duty-free status, you should contact [USTR] immediately— before Labor Day."
It can't hurt to contact your U.S. representative, either, Johari adds. To find out more about the GSP program, he advises, visit www.tradepartnership.com (the Web site of Trade Partnership Worldwide, a consulting firm that specializes in trade policies), and click on "Coalition For GSP" on the upper menu bar.
The Coalition for GSP is a Washington, D.C.-based group of businesses, trade associations, and consumer organizations that seeks the renewal of the GSP program by Congress each time it expires.
The IDCA is a nonprofit organization that provides information on Indian goods to the jewelry community. Indian goods now account for more than two-thirds of the total volume of jewelry sold at retail in the United States, the group says.
By Joseph Dobrian
AUGUST 24, 2006 - Washington -- Members of the Indian Diamond and Colorstone Association (IDCA) are on their way to Washington, D.C., next week to lobby for the renewal of an agreement that allows duty-free imports of specified products, including diamonds and jewelry, from developing countries.
The Generalized System of Preferences (GSP) agreement is up for renewal at the end of 2006, but there appears to be considerable support among members of Congress for removing or reducing many countries' benefits.
Several members of Congress have noted the failure of certain countries— including India—to open their markets to American exports. However, many Indian businesspeople insist that imposition of duties on Indian stones and jewelry could seriously damage American jewelers' bottom lines.
"We feel that the stones and jewelry that come from India are much needed in the American market," Basant Johari, president of Kuber Jewelry in New York and past president of IDCA, told NATIONAL JEWELER Thursday. "Gold and diamond prices have experienced dramatic rises recently, and these products are labor-intensive. If a duty is imposed on them, it might be hard for buyers to absorb, and the industry might be hurt."
The Office of the United States Trade Representative (USTR) has invited public comment, and the IDCA is asking people in the jewelry industry to write to the organization via its Web site, www.USTR.gov.
"But time is short. If you want Indian stones to continue to enjoy duty-free status, you should contact [USTR] immediately— before Labor Day."
It can't hurt to contact your U.S. representative, either, Johari adds. To find out more about the GSP program, he advises, visit www.tradepartnership.com (the Web site of Trade Partnership Worldwide, a consulting firm that specializes in trade policies), and click on "Coalition For GSP" on the upper menu bar.
The Coalition for GSP is a Washington, D.C.-based group of businesses, trade associations, and consumer organizations that seeks the renewal of the GSP program by Congress each time it expires.
The IDCA is a nonprofit organization that provides information on Indian goods to the jewelry community. Indian goods now account for more than two-thirds of the total volume of jewelry sold at retail in the United States, the group says.