Will Trump’s India tariffs shut down world’s biggest cut diamond supplier? | Business and Economy

For Kalpesh Patel, Diwali, the festival of lights celebrated across India, might well mark lights out for his eight-year-old diamond cutting and polishing unit.

The 35-year-old employs about 40 workers who transform rough diamonds into perfectly polished gems for exports at the small factory in Surat, a city located in the western Indian state of Gujarat.

His business has survived multiple speed bumps in recent years. But United States President Donald Trump’s mammoth 50 percent tariffs on…