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
Türkiye’s jewellery exports surge by 79.1% in February 2025

Türkiye’s jewellery exports soared to 861.6 million dollars in February, marking a significant 79.1 percent increase compared to the same period last year, according to data from the Turkish Exporters Assembly (TIM).
Jewellery exports accounted for 4.1 percent of Türkiye’s total exports, with the sector boasting a diverse product portfolio. Gold jewellery and jewellery articles led the exports with a total value of 714.5 million dollars, while other notable product categories included unprocessed or semi-processed gold, silver items, cultured pearls, precious stones, and watches.
The United Arab Emirates (UAE) emerged as Türkiye’s top market for jewellery exports, with shipments amounting to 411.7 million dollars in February. This positions the UAE as the most significant destination for Turkish jewellery. The USA, Switzerland, Hong Kong, and Kyrgyzstan followed with exports valued at 56.6, 53.4, 45.2, and 43.5 million dollars, respectively.
Exports to the UAE saw an exceptional rise of 275 million dollars in February, with other countries, including Switzerland, Kyrgyzstan, Libya, and Belgium, also registering notable growth. Türkiye exported 40.9 million dollars’ worth of jewellery to Libya and 13.3 million dollars to Belgium, reflecting the sector’s expanding global reach.
On a provincial basis, Istanbul remains the epicentre of Türkiye’s jewellery exports, contributing 605.8 million dollars to the total in February. Other major contributors included Çorum with 228.2 million dollars, followed by Trabzon (13.8 million dollars), Kastamonu (7 million dollars), Sakarya (2.9 million dollars), and Ankara (1.6 million dollars).
DiamondBuzz
IGI reports a 17 % increase in revenue for 2024; 29 % growth in profit

The International Gemological Institute (IGI), a leading grading company in the lab-grown diamond market, has reported record financial performance for the calendar year (CY) 2024. The company achieved a 17% increase in revenue and a remarkable 29% growth in profit, driven largely by its dominant 65% share of the global lab-grown diamond grading market.
- Revenue: $120.8 million (INR 10.53 billion), marking a 17% increase compared to the previous year.
- Profit After Tax: $49 million (INR 4.27 billion), reflecting a substantial 29% year-over-year growth.
- Market Share: IGI continues to dominate the lab-grown diamond grading market with a 65% global share.
IGI’s strong financial performance has been supported by its market leadership and strategic business decisions. The company went public in December 2023 with an initial public offering (IPO) that valued IGI at $3.5 billion. This marked a significant valuation jump from its $570 million acquisition price when Blackstone, the world’s largest alternative asset manager, took ownership in May 2023.
Eashwar Iyer, IGI’s Global Chief Financial Officer (CFO), emphasized the company’s operational strength and strategic execution, attributing the record revenue and profit growth to IGI’s ability to capitalize on market opportunities and strengthen its competitive position.
IGI’s robust financial performance underscores the expanding demand for lab-grown diamonds and the growing importance of reliable certification in the industry. The company’s continued leadership in this segment reinforces its credibility and positions it for sustained growth in the future.
IGI’s record-breaking financial results in 2024 highlight its dominant market position, successful strategic initiatives, and ability to drive profitability. With a strong financial foundation and continued expansion, IGI remains at the forefront of the lab-grown diamond grading industry, setting benchmarks for excellence and growth.
DiamondBuzz
Alrosa confirms it is suspending production at its low-margin mines

Alrosa has confirmed that it is suspending production at its low-margin mines amid what it calls a “deep crisis” in the industry. The sanctioned Russian miner said last November it was considering such a move, but would wait and see what happened to rough prices.
Mining at the Verkhne-Munskoye deposit’s Zapolyarny and Magnitny open pits will now be suspended from June 15, and at alluvial deposits in the Anabar River valley – Khara-Mas and Ochuos, operated by Alrosa’s subsidiary Almazy Anabara – from April 1.
The suspension of activity at all deposits producing under 1m carats will reduce direct costs by $107m (RUB 9bn) during the year, the company said in a statement. They account for 3 per cent of Alrosa’s total output.
Alrosa also said forecast production for 2025 would remain unchanged at 29m carats. Ore already mined at the smaller deposits would ore mined at the deposits continue to be milled until next year, it said.
Earlier this month Alrosa reported a 77 per cent slump in profits for 2024 (down to $223m) after G7 sanctions were tightened last March to include Russian goods regardless of where they were cut and polished. The company has said it could lay off some of its 35,000 workers and ii is expected to offload more of its diamonds to Gokhran, the state-run depository.
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