Ajesh Mehta Voices Alarm on U.S. Tariffs Impacting Indian Diamond Industry

Name: Ajesh Mehta Voices Alarm on U.S. Tariffs Impacting Indian Diamond Industry
Uploaded: 2025-08-26T17:54:34+05:30
Description: Ajesh Mehta Voices Alarm on U.S. Tariffs Impacting Indian Diamond Industry

The Indian diamond and jewellery industry is reeling under steep U.S. tariffs, with exports tumbling and fears of deeper setbacks if duties climb further.

Speaking live on BBC News during U.S. prime time, Ajesh Mehta, Convener of the Diamond Panel at GJEPC, underscored the mounting challenges posed by escalating American tariffs on Indian diamond and jewellery shipments.

Between April and July 2025, exports to the U.S. plunged nearly 32%, sliding to USD 2.12 billion compared to USD 3.12 billion in the same period a year earlier. With duties already at 25% and talks of a potential jump to 50%, Mehta cautioned that the sector is entering a period of serious uncertainty.

He flagged the ripple effects already being felt — from shuttered factories in Surat and other cutting centres to widespread job losses throughout the supply chain. The outlook, he noted, could become even more “alarming” if tariff hikes materialise, threatening India’s position in one of its most critical export markets.