India holds over 60% share in key US imports like cumin, lab-grown diamonds, carpets and table linen

On July 30, the US President Donald Trump announced that the US will impose a 25% tariff on goods from India, plus an additional import tax because of New Delhi's purchase of Russian oil

The 25 percent tariff plus penalty imposed by US President Donald Trump on Indian goods is set to impact a wide array of US businesses from restaurant chains to jewellery brands and home furnishing retailers.

In 2024, India accounted for 92 percent of US cumin imports, a spice used extensively in Indian restaurants and fast-casual food chains like Chipotle. The same level of dependency exists in lab-grown diamonds, a fast-growing segment in the US jewellery market. Companies like Brilliant Earth, which emphasise sustainable sourcing, are particularly exposed.

“What does it mean to be ‘planet first’ at Brilliant Earth? By completing every step of our proprietary lab-grown diamond process in Gujarat, India, we’re able to minimise emissions and leverage advanced traceability technology,” the company states on its website.

The reliance extends beyond food and jewellery. India supplied 83 percent of rugs and carpets and 73 percent of table linen imported by the US in 2024, according to a Moneycontrol analysis. In total, the US depended on India for over 60 percent of its imports in more than $3 billion worth of goods.

“Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high... INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST,” the president noted.

Despite the sweeping scope of the tariff action, India will receive carve-outs in nearly a third of its trade, particularly in pharmaceuticals and mobile phones. However, sectors such as textiles, leather goods, marine products, and electrical machinery are expected to bear the brunt of the tariff burden.

Vietnam, the Philippines, and Indonesia, which face lower tariff rates of 19–20 percent, are now better positioned to capture market share in overlapping export categories.

An earlier analysis by Moneycontrol had found that Vietnam is set to benefit the most, having an advantage in 25 percent of tariff lines or nearly $5 billion of trade that overlaps with India.