News

IGJS Jaipur 2025 bolsters global connections amidst mounting trade challenges

Published

1 year ago

April 7, 2025

Against a backdrop of mounting trade challenges, India’s gem and jewellery exporters gathered in Jaipur for the International Gem & Jewellery Show (IGJS) 2025, an exclusive export-focused event organized by the Gem & Jewellery Export Promotion Council (GJEPC). Held from April 3 to 5, the show drew 50 of India’s leading exporters and more than 180 international buyers from 28 countries, reinforcing Jaipur’s status as a pivotal hub in the global jewellery trade.

The show, hosted at the Novotel Jaipur Exhibition and Convention Centre, spotlighted the city’s long-standing reputation for integrated craftsmanship — where stone-cutting and jewellery manufacturing coexist within the same business ecosystem. For many international buyers, this “one-stop-shop” model remains a key draw.

Still, the atmosphere wasn’t without tension. The recent imposition of U.S. tariffs — ranging between 26% and 27% on Indian jewellery exports — loomed large over business discussions. Exporters expressed concern over the long-term implications for price-sensitive markets like the United States, which has traditionally been a top destination for Indian jewellery.

“Tariffs were the biggest talking point on the floor,” said one Jaipur-based exporter. “We’re now discussing cost-sharing models with our U.S. partners, looking to absorb the blow across the supply chain — from exporters to retailers to end consumers.”

Repeat buyers remained a bright spot, with several exhibitors reporting continued interest and steady orders from long-standing clients. But many acknowledged a pressing need to attract larger retail chain buyers, particularly as global trade routes shift.

In response to the evolving trade landscape, exporters are eyeing alternative markets such as Dubai and Saudi Arabia, regions with strong demand and more favorable trade terms. Industry stakeholders also pointed to the India-Australia Economic Cooperation and Trade Agreement (ECTA) as a promising channel for diversifying export destinations.

Despite challenges, the sentiment remained broadly optimistic. The GJEPC announced plans to significantly scale the show in 2026, targeting over 500 global buyers and more than 150 exhibitors, a move intended to elevate the show’s global standing and deepen its influence in the international marketplace.

At its core, IGJS Jaipur 2025 underscored themes of resilience, adaptability, and strategic collaboration — with industry players focused on navigating shifting trade dynamics while continuing to showcase the strength of Indian craftsmanship.

Related Topics:2025 gjepc IGJS nationalnews tradeevents

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International News

WGC Central Bank Gold Statistics: Central Banks Resume Net Buying In April

Ninth Central Bank Gold Reserves Survey 2026 Will Be Released In June and Will Provide The Latest Insights Into The Central Banking Community’s Strategic Views On Gold As A Reserve Asset.

Published

6 hours ago

June 3, 2026

JewelBuzz Spread The Buzz

Poland remained be the top buyer in the month (14t), while China intensified its pace of purchases: it’s t net purchase is the highest since December 2024 and extends its current buying run to 18 consecutive months. The Czech Republic shows similar consistency in purchases, having bought 3t in April, its 38th consecutive monthly purchase. Meanwhile, Russia continues its sales streak this month (6t), with y-t-d sales of 22t.

Reported activity in April and y-t-d was concentrated in:

National Bank of Poland drove much of April’s buying activity, having bought 14t. This brings Poland’s y-t-d gold purchases to 45t with its gold reserves at 595t or about 30% of its total reserves.
People’s Bank of China added 8t to its gold reserves during the month, highest since December 2024. Official gold reserves now stand at 9% of total reserves or around 2,322t. China has been consistently purchasing gold over the past 18 consecutive months.
Czech National Bank’s modest but consistent 2t net purchases in April brings its gold reserves to 79t or 6% of its total reserves.
Meanwhile, Central Bank of Uzbekistan sold 1t this month, though on a y-t-d basis, it remains a net purchaser (24t) and is second only to Poland. Uzbekistan’s reserves make up 88% of its total reserves or around 414t.
Central Bank of Russia continued it recent streak of net sales for the fourth month with reported April net sales of 6t.
March’s top seller, Central Bank of the Republic of Turkey reported virtually flat gold reserves in April, with weekly data showing that short-term gold/USD swaps matured in April, leaving only longer-term (1-3 month) gold/USD swaps outstanding. More on Turkey’s recent reserve management operations can be found in our recently published Gold Demand Trends Q1 2026.
Eastern European and Asian central banks continue to dominate gold purchases with consistent purchases. Over the past 36 months, both regions have purchased 12t and 11t per month on average collectively. Global central banks activity shows average net purchases of 29t over the same period

Ninth Central Bank Gold Reserves Survey 2026 will be released in June and will provide the latest insights into the central banking community’s strategic views on gold as a reserve asset. In our survey in 2025, central banks held favourable expectations on gold with 95% of respondents indicating that global central bank gold reserves will increase over the next 12 months, this is compared to 81% of respondents indicating the same in our 2024 survey. 43% of respondents believe that their own gold reserves will also increase over the same period in 2025, compared to 29% of respondents in our survey in 2024.