03
Sep
Surat (Gujarat) [India], September 3: The sparkle has dimmed in Surat. America’s 50% tariff on Indian diamonds has hit the city’s famed cutters and polishers where it hurts most: cancelled orders, ballooning costs, and an uncertain future. US Tariffs Choke Surat’s Lifeline On August 27, Washington’s new 50% tariff on Indian diamond imports officially kicked in. The result was immediate. Traders in Gujarat’s Surat, the world’s largest diamond polishing hub, saw their US orders vanish overnight. Umesh Munjapara, a long-time trader, didn’t mince words. “All our orders from America are getting cancelled, and new ones aren’t coming in. The business…