{"id":188370,"date":"2025-08-31T01:42:09","date_gmt":"2025-08-31T01:42:09","guid":{"rendered":"https:\/\/www.europesays.com\/us\/188370\/"},"modified":"2025-08-31T01:42:09","modified_gmt":"2025-08-31T01:42:09","slug":"indias-diamond-industry-counts-on-domestic-demand-to-cushion-us-tariff-blow-latest-news-india","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/188370\/","title":{"rendered":"India’s diamond industry counts on domestic demand to cushion US tariff blow | Latest News India"},"content":{"rendered":"\n

Kolkata:<\/strong> Members of India’s diamond industry have said that the US decision to impose 50 per cent tariffs on Indian goods poses a challenge, but expressed confidence in the sector’s resilience and the strength of the domestic market.<\/p>\n

\"FILE FILE PHOTO: A worker sorts diamonds at a diamond processing unit in Ahmedabad, India, August 8, 2025. REUTERS\/Amit Dave\/File Photo(REUTERS) <\/p>\n

Amit Pratihari, Managing Director of De Beers India, underlined the importance of the US as a destination.<\/p>\n

“The US is the largest market for polished diamonds. They consume almost 50 per cent of the global production. There will be an impact for sure, but I think it’s more short-term,” he said.<\/p>\n

He praised government engagement with the US administration and noted that domestic opportunities remain strong.<\/p>\n

“India is the second-largest diamond jewellery market. There are lots of domestic opportunities,” Pratihari told ANI, on the sidelines of Diamond Conclave 2.0, organised by the Indian Chamber of Commerce.<\/p>\n

Sabyasachi Ray, Executive Director of the Gem and Jewellery Export Promotion Council (GJEPC), called the tariff move a surprise.<\/p>\n

“The tariffs, if they remain persistent for long, may impact our business… 50% tariffs came as a shocker for us,” he said.<\/p>\n

According to him, exporters front-loaded shipments ahead of the new tariffs that took effect on August 27.<\/p>\n

He added, “There will be no job losses, because the employers have the capacity to sustain them for 3-6 months.”<\/p>\n

Ray also pointed to strong GDP growth and rising disposable incomes as supportive factors for jewellery demand.<\/p>\n

Speaking on the government’s position, R. Arulanandan, Director in the Department of Commerce, said, “Regarding tariffs, dialogues are going on. India is a large market and the domestic demand for diamonds is growing… Irrespective of tariffs, the exporters should not put all eggs in one basket.”<\/p>\n

Suvankar Sen, Managing Director of Senco Gold and Diamonds, said festive season demand in India could help offset losses, even as exports may dip for 1-2 months.<\/p>\n

“In the short run, till an understanding is reached between the countries, there would be an impact,” he said.<\/p>\n

Referring to the workforce, he noted, \u201cAbout 40 lakh artisans are part of this industry… They may face some uncertainty on the employment front.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Kolkata: Members of India’s diamond industry have said that the US decision to impose 50 per cent tariffs…\n","protected":false},"author":3,"featured_media":188371,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,105449,79,105446,105450,105448,67,132,68,105447],"class_list":{"0":"post-188370","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-diamond-jewellery-market","10":"tag-economy","11":"tag-india-diamond-industry","12":"tag-jewellery-demand-in-india","13":"tag-polished-diamonds-market","14":"tag-united-states","15":"tag-unitedstates","16":"tag-us","17":"tag-us-tariffs-on-indian-goods"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115120842023440504","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/188370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=188370"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/188370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/188371"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=188370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=188370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=188370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}