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US Tariff Threatens India’s Diamond Industry

US Tariff Threatens India’s Diamond Industry

The recent 26% tariff on Indian gems and jewellery exports by the US could severely affect India's diamond industry, which relies heavily on the American market. With the US accounting for about 30% of India's gems exports, industry leaders warn that this tariff will burden exporters and consumers alike. The diamond polishing sector in Surat, which employs over 800,000 workers, is particularly vulnerable, facing potential collapse if the situation isn’t resolved. Experts suggest that negotiating a Bilateral Trade Agreement could help mitigate these challenges and secure the industry's future.

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