VARANASI, Aug. 31 -- Traders in Varanasi have voiced concern over the tariffs imposed by the United States, warning of possible strain on exports of Banarasi sarees, silk products and handicrafts. They, however, believe the crisis could open doors to new markets if India adopts a strategy of diversification and stronger domestic policies. Vijay Gupta, a member of Rashtriya Udyog Vyavsayik Mahasang, said the tariffs would increase uncertainty in the global market. "This is both a challenge and an opportunity for India. With the right strategy, this crisis can be turned into an opportunity. Diversification strategy should be adopted to explore new markets and economic policies should be changed to boost domestic consumption," he said, stressing the need to strengthen the domestic economy amid global uncertainty. Somnath Vishwakarma, a trader from Varanasi, said the US move could affect the local textile industry if not dealt with strategically. "New markets should be explored for enhancing exports. Varanasi is a hub of Banarasi sarees and several other silk products, handloom and handicraft items, which are exported to foreign countries. This tariff is going to cast its effects on Benarasi products too, but that will not be very high," he added.htc...