Surat: For the diamantaires in the world’s largest diamond cutting and polishing centre in Surat, the fiscal year 2025-26 may have ended with huge export losses in the diamond jewellery segment due to the US tariff war, but the coming months may bring in joy for the industry.
There is a significant amount of pessimism in the diamond industry of Surat that the cutting and polishing sector is all set to see a boom time ahead. Keeping in mind that 9 out of every 10 diamonds in the world are cut and polished in the Surat diamond industry, if we imagine the huge amount of rough diamonds dumped in India during the past year, then the diamond industry can be booming in the coming time.
During the recently completed accounting year, a huge amount of natural diamonds worth 10.23 crore carats of rough diamonds have been dumped in India during the year 2025-26. Similarly, if we talk about lab-grown diamonds, then during the same period, a total of 726 lakh carats of rough lab-grown diamonds have been dumped in India.
During the year ended March 31, 726.48 carats of rough lab-grown diamonds were also dumped, both of which are enough to boost the diamond industry of Surat.
The amount of rough diamonds dumped in India during the entire year has not yet been exported as the issue of US tariffs is still complicated and the export of diamonds and diamond-studded jewellery has also been hampered due to the war in the Middle East. This means that diamond industrialists in Surat and Mumbai have a large inventory of rough diamonds and polished diamonds.
Experts have predicted that the war in the Middle East can end at any time and during this, there was also news last week that the complicated tariff dispute between the US and India is also likely to be resolved in the next month or so. In such a situation, there are clear signs that the coming times will bring a boom for the diamond industry of Surat.
