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Indian Diamantaires Brace for Slump as US Tightens Trade on Natural Diamonds
CRISIL's analysis of 43 diamantaires, representing approximately a quarter of the industry's revenue, suggests that while export revenues will take a hit.
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R Suryamurthy - Tue, 29, Apr 2025
- 23:43 EDT
- 239
Representative Image. / Pexels
Indian diamond exports are projected to decline by 8-10 percent in fiscal year 2026, primarily due to the newly imposed 10 percent additional tariff by the United States on natural diamonds. This is according to a recent analysis by CRISIL Ratings, which highlights that the US accounts for nearly a third of India's natural diamond exports.
The tariff will compound the existing challenges faced by Indian diamantaires, including subdued global demand and increasing competition from lab-grown diamonds (LGDs). LGDs, which closely resemble natural diamonds but are significantly cheaper, are already impacting the market.
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