India’s Diamond Industry at Risk as U.S. Tariffs Double
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India’s Diamond Industry at Risk as U.S. Tariffs Double
India is moving fast to counter Trump’s new tariffs on Indian exports, as the U.S. government imposes an additional 25% duty on Indian goods, raising total tariffs to nearly 50%—the highest ever on India–U.S. trade. With the diamond industry in Surat facing a major crisis, exports of gems, jewelry, and polished diamonds are at risk of collapsing as the U.S., India’s largest market, shuts its doors. To reduce dependency on the U.S., India has identified nearly 50 new export destinations to expand trade and safeguard revenue. Experts warn that Trump’s trade war with India could reshape global supply chains, push exporters to countries like Botswana, and force businesses to find alternative markets. This video explains how India’s export strategy, U.S. tariffs, diamond industry slowdown, and Russia oil trade sanctions are reshaping the future of India–U.S. economic relations.
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