US Tariffs Cripple India's Diamond Exports; Surat Workers Suffer Job Losses, Income Plunge

• US tariffs severely hit India's diamond exports, causing a sharp decline in trade with its largest market, the US.
• Surat, India's diamond capital, faces a major slowdown with widespread job losses, factory shutdowns, and reduced worker incomes.
• Exports to the US plummeted from $5.93 billion in 2023 to $2.42 billion by September 2025, less than half of previous levels.
• Over 1.5 lakh diamond workers in Surat lost jobs; many others face reduced wages or fewer working days. Small units are worst hit.
• Lab-grown diamonds offer limited relief due to lower margins and significantly reduced pay for workers, exacerbating the crisis.

Why It Matters: US tariffs devastate India's diamond industry, leading to massive job losses and economic hardship in Surat.