U.S.’ duties to hit India's diamond industry

17:00 - 7.04.2025

April 7, Fineko/abc.az. The United States, which accounts for about a third of India's jewelry exports, on Thursday imposed trade tariffs of 27% on imports of these goods.

ABC.AZ informs that India processes nine out of every ten diamonds produced worldwide, and more than 80% of world's rough diamond supply is cut and polished in Surat.

A sudden drop in demand in the U.S. will require short-term adjustments to production capacity and could lead to reduction in rough diamond imports, said Shaunak Parikh, vice chairman of GJEPC, a government organization responsible for development of Indian gemstone and jewelry industry.