The story so far: India’s diamond and jewellery sector has been hit due to the U.S. tariffs. While the U.S. has imposed a 50% import duty on India’s cut and polished diamonds, it has imposed a 50-57% duty on studded and non-studded jewellery, upsetting decades of well-set trade. India is the world’s largest exporter of cut and polished diamonds. At such a time, the sector wants government intervention which could absorb the shock caused by U.S. tariffs.

Why government intervention?

The U.S. is the largest importer of diamonds from India. In 2024-25, India exported diamonds worth ₹46,000 crore and studded gold jewellery worth ₹23,000 crore. Moreover, India’s cut and polished diamond industry employs 8.2 lakh skilled workers. The U.S. tariffs are likely to affect the jobs of 1.7 lakh skil

See Full Page