How Iran war is crushing India's diamond industry

Surat, often called the global diamond capital, is under mounting pressure as geopolitical tensions disrupt one of India's most critical export industries. The city — responsible for cutting and polishing the vast majority of the world's diamonds — is grappling with supply chain disruptions, rising shipping and insurance costs, and reduced demand in key markets.

Industry figures say sanctions on Russian diamonds and escalating Middle East conflicts have intensified an already fragile situation, forcing factory closures, layoffs and pay cuts. Workers report unpaid wages and growing financial stress, highlighting the human toll of a global trade slowdown.