International News
Doha International Diamond & Gem Conference 2025
A defining moment for Qatar’s luxury and gemstone industry

The Doha International Diamond & Gem Conference concluded on January 31st, marking a pivotal moment in Qatar’s journey toward becoming a new hub for luxury, trade, and innovation in the diamond and coloured gemstone industry. Held alongside the Doha Jewelry & Watches Exhibition, the conference brought together some of the most diverse and influential voices in the diamond and coloured gemstone sector, setting the stage for an era of collaboration, sustainability, and market evolution.
Opening the conference, H.E. Saad Al Kharji, Chairman of Qatar Tourism, underscored Qatar’s enduring legacy as a destination synonymous with refinement and world-class excellence. “Qatar has always been a symbol of luxury, with its exceptional hospitality, advanced infrastructure, and rich cultural heritage. The synergy between this conference and the exhibition reflects our strategic vision to position Qatar as the global hub of luxury,” he stated.
H.E. Dr. Ahmed Al Sayed, Minister of State for Foreign Trade, emphasised Qatar’s growing influence in the diamond and gemstone trade, highlighting the nation’s commitment to fostering investment and collaboration. “The State of Qatar is not only honoured to be a part of the Kimberley Process but is also eager to contribute on a global scale. Our private sector and government institutions are ready to support and expand this industry, ensuring Qatar becomes a key player in the trade of high-value diamonds and jewellery.”
In a powerful address, H.E. Bogolo Joy Kenewendo, Minister of Minerals and Energy of Botswana, reflected on Botswana’s partnership with Qatar in advancing ethical diamond trading. “We were proud to support Qatar in the Kimberley Process, and we are delighted to see this nation take the baton forward in championing natural diamonds through this conference. Qatar’s commitment to this industry is evident, and as we gather in this dynamic setting—at the crossroads of innovation and culture—it is clear that this event is not just a conference but a movement toward meaningful progress.”
Echoing these sentiments, Ahmed Bin Sulayem, Executive Chairman of the Dubai Multi Commodities Centre, acknowledged the evolving landscape of the global diamond trade. “The industry faces headwinds, from shifting consumer demand to supply chain disruptions and the rise of lab-grown diamonds. But within these challenges lie opportunities—opportunities for innovation, for market resilience, and, most importantly, for collaboration.”
Feriel Zerouki, President of the World Diamond Council (WDC), described Qatar’s emergence as a timely and significant force in the global diamond industry. “Since joining the Kimberley Process in 2021, Qatar has been carving its niche, proving its dedication to ethical sourcing and responsible trade. This first conference sets a tone for the future—one that prioritises unity and transparency in the industry.
Kirit Bhansali, Vice Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), further emphasised the deep-rooted connections between Qatar and other leading markets. “India and Qatar share a rich history, not just in culture but in trade. With over 750,000 Indians calling Qatar home, our nations are linked by deep values of cooperation and mutual respect. This relationship is reflected in the growing trade between our two countries, especially in the high-value jewellery sector.”
Reflecting on the conference’s success, Alex Popov, Chair of the Organising Committee,reinforced Qatar’s growing significance in the industry. “This conference has demonstrated that Qatar is not just participating in the global diamond, coloured gemstone, and pearl trade—it is actively shaping its future. The level of engagement, the quality of discussions, and the vision shared here set a new benchmark for collaboration in our industry.”
As discussions unfolded throughout the conference, key themes emerged, reinforcing the importance of collaboration, innovation, and sustainability.
The theme “The New Connection” proved to be more than a title—it was a lived experience. Industry leaders, traders, and policymakers found new ways to forge partnerships, aligning on strategies to elevate natural diamonds and gemstones in the face of changing consumer expectations. Sessions like “Fostering Collaboration in the Diamond and Gemstone Sectors” highlighted the urgent need for a more integrated supply chain, with experts like Paul Rowley (De Beers) and Yamkela Makupula of the South African Diamond Producers Association (SADPO) stressing the importance of breaking down industry silos.
The discussion on category marketing revealed a pressing challenge—diamonds and coloured gemstones are not marketed as a luxury product like other high-end goods. In a session moderated by Dr. Frank Müller, speakers like David Kellie (Natural Diamond Council) and Katerina Perez (Jewelry Insider & Brand Consultant) explored how brands must redefine their storytelling to maintain desirability and captivate the next generation of luxury consumers.
The “Why Qatar?” session provided deep insights into the country’s strategic advantages as a luxury trade and investment hub. Panelists, including Mohammed Abdulsalam Al Emadi, Executive Director of Investment and Incubation at the Qatar Development Bank; Miriam Al Malik, Senior Executive, Invest Qatar; and Abdulla Al Abdulla, Director of Regulations Development and Compliance, the Qatar Free Zone Authority, highlighted Qatar’s stable monetary environment, pro-business policies, and world-class infrastructure as key enablers for sustainable growth in the diamond and gemstone industry.
One of the most extraordinary experiences of the conference was the session on ESG and sustainability held at the Heenat Salma Farm. Against Qatar’s desert landscape, industry leaders discussed the future of ethical sourcing, responsible mining, and social impact. The session was both a leisurely retreat and a profound opportunity to examine sustainability from a fresh perspective, reinforcing that luxury and responsibility must go hand in hand.
As the conference came to a close, the final session, “The Morning After,” brought together industry veterans to reflect on the key takeaways. The message was clear—this is just the beginning. From strengthening the diamond and gemstone value chain to redefining marketing strategies and enhancing sustainability efforts, the Doha International Diamond & Gem Conference has set the stage for tangible industry-wide change.
Qatar has proven itself not just as a host but as an emerging and auspicious participant in the global diamond and gemstone sector. This inaugural event was a statement that signals the country’s long-term vision for luxury, trade, and investment. With new partnerships, forged and critical conversations ignited, the Doha International Diamond & Gem Conference 2025 will be remembered as the beginning of a new era where Qatar stands firmly at the centre of the industry’s future.

International News
Indian Jewellery Exporters Breathe Easy temporarily as US Court Blocks Tariff Rise

In a significant development for Indian gem and jewellery exporters, a US Federal court has temporarily halted President Donald Trump’s proposed ‘Liberation Day’ tariffs, which were set to substantially increase duties on imported goods, including jewellery. The ruling has been welcomed by the industry, which had been preparing for tariff increases from 6% to as high as 26%.
The Court of International Trade in Manhattan deemed the executive orders issued on April 2 as “unlawful.” These orders aimed to implement a 10% baseline tariff on most US imports, with even steeper rates for countries with substantial trade surpluses — including China, the European Union, and initially, India. The 26% tariff targeting Indian gem and jewellery exports was scheduled to take effect on April 9 but had been postponed to July 9 due to ongoing legal challenges.
According to a newspaper report, the proposed tariff hike would have had a severe financial impact on exporters. Jewellery manufacturers operating in SEEPZ, which account for 64% of India’s $3.5 billion in annual jewellery shipments to the US, would have seen upfront duties per million-dollar consignment jump from $60,000 to $320,000. This would have further strained their cash flows at a time when global demand remains weak.
While the court’s decision does not address all of the industry’s challenges, it provides crucial temporary relief and highlights the need for consistent trade policies to support India’s standing in the global gem and jewellery market.
International News
Ruling court nullifies Trump tariffs – AUGMONT BULLION REPORT

- Gold stabilizes in a range as a court decision overturns Trump’s tariffs, increasing risk appetite and depressing the greenback. After the U.S. Court of International Trade determined on Wednesday that Trump had overreached himself by using emergency powers to impose high tariffs on the majority of the nation’s trading partners, gold prices rose.
- On Thursday, the U.S. Bureau of Economic Analysis released its initial update on the country’s first-quarter economic growth. According to the agency, the US GDP decreased by 0.2% over that time, which was less than the 0.4% decline that was anticipated and less than the 0.3% decline that the bureau had initially projected.
- While acknowledging certain stagflation concerns, policymakers pointed out that the Committee may have to make tough trade-offs if inflation turns out to be more persistent and growth and employment prospects deteriorate.
Technical Triggers
- Gold prices are expected to trade in the range of $3270 (~Rs 95000) and $3370 (~Rs 96400) in the near term. Either side breakout or breakdown will give 2-3% movement.
- Silver prices are expected to trade in the range of $32.5(~Rs 96000) and $34(~Rs 99000) in the near term.
International News
Swarovski Names Kolja Kiofsky as Chief Commercial Officer, Effective January 2026

Swarovski has announced the promotion of Kolja Kiofsky to Chief Commercial Officer, effective January 2026. Currently serving as General Manager of North America, Kiofsky will take over from Michele Molon, who is set to depart in July 2025 for a new opportunity.
In his new role, Kiofsky will lead Swarovski’s global commercial operations, overseeing omni-channel strategy, global sales, commercial architecture, and real estate. He will relocate from New York to the company’s corporate headquarters in Männedorf, Switzerland, and report directly to CEO Alexis Nasard.

“Kolja Kiofsky’s promotion to chief commercial officer marks an exciting new chapter for Swarovski. Kolja’s leadership and strategic vision have been pivotal in driving growth and transformation in North America,” said Nasard.
“At the same time, Swarovski extends its heartfelt gratitude to Michele Molon for his outstanding contributions and dedication to our company and brand. Michele leaves with a strong business and organizational legacy.”
Until Kiofsky assumes the role in January, Ilse Roeffen, Head of Emerging Markets and Businesses, will serve as interim Chief Commercial Officer.
Reacting to the announcement, Kiofsky said, “I’m incredibly honored and excited to step into the role of chief commercial officer after 15 amazing years with Swarovski. This company has been a huge part of my professional journey, and I’m proud to have the opportunity to contribute to its legacy of innovation, craftsmanship and excellence. I want to extend my sincere gratitude to Michele Molon who has been not only a brilliant leader but also a true partner and mentor throughout the years. I look forward to building on the strong foundation he laid and driving our commercial strategy into its next phase.”

The promotion comes as Swarovski reported a 6% increase in revenue in 2024, reaching €1.906 billion—signaling strong momentum for the heritage crystal brand.
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