Concerns are rising among Indian diamond and textile workers following US President Trump's announcement of additional tariffs. Jagdish Prajapati, a diamond worker, expressed fears about the combined effects of existing economic slowdowns and new tariffs, which may jeopardize family incomes. The diamond industry employs 800,000 to 1 million workers in Gujarat and heavily relies on the US market, accounting for over $10 billion in exports. Kirit Bhansali warns that the tariff hike could severely disrupt the entire diamond value chain, affecting both small and large businesses.
"We have already been grappling with an economic slowdown over the past few years, with problems stemming from the Russia-Ukraine war. The burden of steep US tariffs..."
"The US our single largest market, accounting for over $10 billion in exports nearly 30% of our industry's total global trade. A blanket tariff of this magnitude is severely devastating for the sector."
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