šā” "US Tariff Shock! Diamond Hub in India Faces 30% Crash š±š"
- MediaFx
- Aug 28
- 2 min read
TL;DR:Ā The U.S. has hit Indiaās diamond polishing industry with a 50% tariff bombĀ š£š. This move could wipe out nearly 30% of revenueĀ š, and 2 lakh jobsĀ in Suratāthe heart of the diamond worldāare at risk š·āāļøš. The industry, already struggling with falling demand and lab-grown diamond competition, now faces its biggest crisis in decades š.
š Diamonds Losing Shine in India
India, which polishes 95% of the worldās diamonds, is suddenly staring at a crisis šš. From August 27, the U.S. has slapped a 50% tariffĀ on polished diamonds from India š”. This means American buyers will now pay much more, making Indian diamonds far less attractive āØā”ļøšø.
Experts say revenues will fall by 28ā30% this year, from around $16 billion to just $12.5 billionĀ š. Thatās like losing one-third of the sparkle overnight š.
š Industry Already Struggling
Even before the tariff, things were not shiny:
Natural diamond prices were fallingĀ š
Demand in the U.S. and ChinaĀ was weak š
Lab-grown diamondsĀ were taking over, now holding almost 60% of market share by volumeĀ š”š
Margins were thin at just 5.5%, and now theyāll shrink to 3.5ā4%Ā š¬. For small polishing units, thatās almost no profit at all š«š°.
š· Workers in Surat Face Dark Days
In Surat, the diamond capital of the world, the mood is gloomy š. Workshops are empty, orders have dried up, and thousands of workers sit idle. The industry fears that up to 2 lakh workers could lose their jobsĀ š±.
These arenāt just numbersābehind every job loss is a family struggling to pay rent, school fees, and buy groceries ššļø. The rich diamond traders might survive, but itās the small polishers and daily-wage workers who are facing the hardest hit š.
š Searching for New Markets
Industry leaders are now looking towards UAE, Europe, and Middle EastĀ as possible buyers š. Some are even thinking of moving operations abroad to escape tariffs āļø. But these are long-term plansāright now, workers in Surat need immediate reliefĀ š.
ā MediaFx Peopleās Take
This whole issue shows how the working class always pays the priceĀ š . The government talks big about India being a global leader š, but when crisis comes, no one stands with the workers š·āāļø.
What India needs right now is support for the labourers, not just businessmen. Workers should get social security, minimum wages protection, and relief packagesĀ so they can survive this storm šŖā¤ļø.
After all, the shine of a diamond comes from the sweat of the worker, not the speeches of politicians ā.
š Whatās your take? Should India fight the U.S. tariffs š„ or move faster into lab-grown diamonds? Comment below šš
