Latest news with #Surtis

Business Standard

Tariff turbulence: Surat's diamond industry faces third crisis in 17 years

The industry still says India will continue to be the preferred hub for diamond polishing because of its skill base and manpower Ajinkya Kawale New Delhi Listen to This Article On Raksha Bandhan day in 1938, the Tapi river played havoc in Surat, tossing around boats and sending 84 people into the watery grave. Since then, the Surtis (residents of Surat) observe the festival one day after its calendar date, in remembrance of the tragedy. This year, it is an onslaught of another kind in the famed diamond city, an onslaught of heavy tariffs, clouding most festivities. The United States' (US') reciprocal tariffs, coupled with penalties, threaten the livelihood of artisans. Surat is the world's hub for diamond finishing, and over 90 in 100 diamonds globally are polished. The job