Kolkata, Aug. 30 -- Members of India's diamond industry have said that the US decision to impose 50 per cent tariffs on Indian goods poses a challenge, but expressed confidence in the sector's resilience and the strength of the domestic market.

Amit Pratihari, Managing Director of De Beers India, underlined the importance of the US as a destination.

"The US is the largest market for polished diamonds. They consume almost 50 per cent of the global production. There will be an impact for sure, but I think it's more short-term," he said.

He praised government engagement with the US administration and noted that domestic opportunities remain strong.

"India is the second-largest diamond jewellery market. There are lots of domestic opportun...