Indian diamond industry hit hard by US duties

Azernews.Az

26 August 2025 22:21 (UTC+04:00)

Diamond exports from India have plummeted to a 20-year low, primarily due to weak demand from China. At the same time, the looming increase in U.S. tariffs under President Donald Trump threatens to cut off access to the country's largest market, which accounts for roughly one-third of the global supply of precious stones and jewelry, valued at around $28.5 billion annually, Azernews reports.

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