American president announced a 25% tariff on goods exported from India to the US and a penalty of an unspecified percentage for buying military equipment or oil from Russia. While the Indian side has to still evaluate the dynamics of this tariff, it is clear that the US Fed has bullied its way into the Indian terrain.

The diamond and jewellery export sector, already reeling under massive pressure, will become the most affected in terms of the foreign exchange earnings year on year from US exports. According to sources 25% tariff might hit the industry hard as millions of people are engaged in direct and indirect employment in the gem and jewellery sector. The diamond and jewellery sector hugely depend on US exports as the US is the largest consumer market as of now in the world.