Walk through the sprawling corridors of the Surat Diamond Bourse once envisioned as a sparkling testament to India’s gem ambition and you'll hear an unfamiliar sound: silence. Fewer than 250 of the 4,700 offices are occupied, and traders are sitting idly as an industry-wide hush fall.

The cause? A looming 50% tariff from the U.S. double what India currently faces poised to take effect and send shockwaves through an industry that polishes over 80% of the world’s rough diamonds. Such severe duties threaten to sever access to the U.S., the largest export market accounting for a third of India’s gem and jewellery shipments, worth over $28 billion annually. 

Artisans, once accustomed to holiday-season surges, now face a worrying lull. Many exporters are contemplating shifting operations to tariff-friendly countries like Botswana. Small units are slashing work hours and offering deep discounts just to stay afloat. Thousands of workers some estimates range from 150,000 to 200,000 could lose their livelihoods unless swift policy action arrives. 

Behind these cold numbers are human stories families dependent on polishing units, daily wage earners facing uncertainty, and traders watching helplessly as past prosperity dims. As industry associations call for relief packages and credit extensions, the message is clear: unless support arrives soon, the sparkle of Surat’s diamond dreams might fade forever.