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The big story

Indians this week celebrated Diwali — a festival of lights — offering prayers for prosperity and good fortune.

Those invocations come at a crucial time, as Indian exporters continue to grapple with punishing U.S. tariffs of 50%.

The levies have been particularly worrisome for India's labor-intensive textiles, and gems and jewelry sectors. The U.S. remains the country's single largest export destination, accounting for more than $45.8 billion, or over 20%, of its total exports between April — start of India's financial year — and September.

For industries that derive 30% or more of their export busi

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