U.S. tariff hike to cut Indian diamond polishers’ revenue by 28-30% this fiscal: CRISIL
The imposition of 50% tariffs (25% reciprocal plus 25% penalty) by the U.S. on gem and jewellery is expected to lead to a revenue fall of India’s natural diamond polishing industry by a steep 28-30% to $12.50 billion this fiscal, compared with $16 billion last fiscal, CRISIL Ratings said in a note. The blow will follow…