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India gets tariff relief as US announces 90-day reprieve

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In a significant shift in U.S. trade policy, President Donald Trump announced a 90-day pause on increased tariffs for over 75 countries that refrained from retaliating against earlier U.S. import duties. The move marks a strategic softening in response to market pressures and ongoing global trade tensions—particularly with China.

  • Tariff Reprieve for Over 75 Nations:
    • A 90-day pause on higher tariffs announced for countries that have not retaliated against U.S. import levies.
    • These countries will face a reduced 10% reciprocal tariff during this period.
    • India is among the key beneficiaries, having opted for diplomatic dialogue over retaliation.
  • India’s Position:
    • Faced a previous 26% tariff under U.S. policy.
    • Chose not to impose counter-tariffs, instead engaging diplomatically.
    • High-level talks held between India’s External Affairs Minister S. Jaishankar and U.S. Secretary of State Marco Rubio aimed at a bilateral trade deal.
  • Escalation with China:
    • China responded to initial U.S. tariffs (20%, 34%, then 50%) with its own 84% tariff on American goods.
    • In response, Trump announced a new 125% tariff on Chinese imports.
    • Trump cited China’s “lack of respect” for global trade norms as justification.
  • Market & Business Reaction:
    • The pause in tariffs led to a strong rally in global stock markets, adding $1.5 trillion in value.
    • Influential investors like Bill Ackman supported the move.
    • Internal dissent continued, with Tesla CEO Elon Musk
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Aukera LGD Jewellery launches two new stores in NCR 

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Aukera, one of India’s leading lab-grown diamond jewellery brands, has forayed into North India with two new stores in Gurugram and Noida. With this milestone, Aukera now has ten operational stores across Bengaluru, Hyderabad, and the National Capital Region (NCR), reflecting the brand’s steady rise and growing influence in the lab-grown diamond jewellery market.

The newly launched stores are strategically located at Good Earth Mall, Sector 50, Gurugram, and Wave One Mall, Sector 18, Noida, covering 1,500 sq. ft. and 2,000 sq. ft. respectively. In line with Aukera’s retail aesthetics, the stores seamlessly reflect the brand’s ethos of elegance, sophistication and contemporary with minimalistic decor allowing the jewellery to take centre stage. The store offers a well curated collection of solitaire engagement rings, bridal sets, necklaces, earrings, as well as the brand’s signature line “Echoes of Choice” and its recently launched Akshaya Tritiya special Infinity Diamond collection featuring a ‘no dosham’ diamond for prosperity and good luck.

Speaking at the launch, Lisa Mukhedkar, Founder and CEO of Aukera, said, “Expanding in North region is a key strategic priority for our brand. NCR is a vibrant community of trendsetters and home to a style forward audience that appreciates both tradition and innovation. We are proud to showcase our craftsmanship, unique designs, and high-quality lab-grown diamonds in this region through curated product lines that blend style, sophistication, and quality. With ambitious expansion plans, we aim to rapidly grow our network of stores in Delhi NCR, carving out a niche for ourselves in this dynamic market.”

North India is very important part of the jewellery market and crucial from a growth perspective. With its large, jewellery, conscious population and deep-rooted cultural connection to celebratory adornment, the market offers immense potential for meaningful customer engagement. Moreover, the city’s reputation as a hub for luxury and lifestyle makes it an ideal location for a brand like Aukera, which blends modern sensibilities with timeless elegance. The new stores in NCR are designed to offer customers a unique shopping experience and underscore the brand’s emphasis on authenticity with global standard certification from IGI ensuring the highest standards of authenticity and quality.

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National News

GJEPC Collaborates with Delhi Customs to Streamline Jewellery Export via Personal Carriage

Follow-up meeting focuses on refining SOPs under Circular No. 09/25 – Customs to ease export processes through Delhi’s Precious Cargo Warehouse

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On 15 April, a delegation from the GJEPC Northern Regional Office met with senior officials of Delhi Customs to further refine Standard Operating Procedures (SOPs) for the import and export of jewellery via personal carriage. This discussion followed an initial meeting held on 9 April and focused on the implementation of Circular No. 09/25 – Customs, dated 28 April 2025, with the goal of issuing a comprehensive public notice for the trade.

Key customs officials present included Mr. Dheeraj Rastogi, IRS, Principal Commissioner – Exports; Ms. Ashima Bansal, IRS, Commissioner – ACC Export; Mr. Vishal Pal Singh, IRS, Commissioner – Airport; Mr. Dibyalok Singh, IRS, Deputy Commissioner – ACC Shed; and Mr. Anuj Kumar Pandey, IRS, Additional Deputy Commissioner – Airport. Representing the GJEPC were Mr. Antarpal Singh Sawhney, Regional Chairman – North, and Mr. Anil Sankhwal, Convener, Studded Jewellery Panel.

The meeting primarily addressed ways to optimise the draft SOPs for hand-carried jewellery exports through the Precious Cargo Warehouse (PCW) operated by Celebi at Delhi Airport. GJEPC representatives proposed practical solutions to remove procedural bottlenecks and speed up customs clearance. Among their key requests was the establishment of a dedicated detention room for appraised parcels within the Central Warehousing Corporation (CWC) cargo shed to reduce delays and improve exporter convenience.

Customs officials, led by Mr. Rastogi, responded positively to the recommendations and assured the delegation of due consideration. They also advised GJEPC to initiate discussions with CWC for space allocation to implement the suggested changes effectively.

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IGI D SHOW 2025: The Largest Premier Diamond Jewelry Exhibition at Jio Convention CentreD

Celebrating IGI’s 50th Anniversary, the 21st Edition of D SHOW Unites Industry Leaders to Showcase Exquisite Designs and Foster Dynamic Networking Opportunities

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The International Gemological Institute (IGI) is set to host its prestigious 21st edition of the IGI D Show from April 17th to 19th, 2025, at the Jio World Convention Centre in Mumbai. This exclusive diamond exhibition has become a cornerstone event for India’s gem and jewelry industry, fostering meaningful relationships between premier diamond manufacturers and Luxury/High-end retail brands.

The D Show, an exclusive platform pioneered by IGI, unites manufacturers and retailers to forge partnerships, exchange insights, and explore opportunities driving innovation in the diamond trade. Since its inception, the event has catalyzed collaboration, fostering growth and strengthening relationships across the industry.

This year’s edition with the theme The Artisans behind the ALLURE holds special significance as we reflect on five decades of IGI’s contribution to the diamond world and chart a visionary path forward.

As India solidifies its position not only as a premier manufacturing hub but also as a burgeoning consumer market, the D Show serves as a tribute to the nation’s pivotal role in shaping the global diamond landscape.

The upcoming edition promises to be a landmark event, bringing together industry leaders to explore the latest trends, cutting-edge designs, and premium-certified diamonds. This year, the edition will witness handpicked 60+ diamond jewelry manufacturers, showcasing over 300 attractive diamond jewelry designs.

On the occasion, Mr. Tehmasp Printer, MD & CEO, IGI, said “As IGI commemorates its 50th anniversary in 2025, we are proud to introduce the D Show in Mumbai. This event embodies our industry’s commitment to innovation, luxury, and excellence in the diamond sector. The D Show is centered around Exquisite Diamonds, statement Designs, and Dynamic Networking, uniting industry leaders to showcase craftsmanship, quality, and creativity in today’s evolving jewelry landscape.​”

He further said, “The IGI D Show has consistently evolved from a buyer-seller meet into a community-oriented networking event, fostering collaborations that drive the gem and jewelry industry forward. By bringing together esteemed manufacturers and retailers, we aim to create an environment where innovation, quality, and trust flourish, ultimately benefiting the entire industry.”

The exhibition will span 15,000 square meters within the Jio World Convention Centre’s Exhibition Halls, accommodating numerous stalls that will showcase exquisite diamond jewelry collections. Attendees can expect to explore an extensive array of over 100,000 exclusive Diamond Jewelry designs, including latest fancy-shaped diamond jewelry, couture collections, and more.

The IGI D Show will feature an elite group of handpicked manufacturers renowned for their exceptional craftsmanship and adherence to quality. These exhibitors have undergone stringent selection criteria, ensuring they meet IGI’s high standards for design innovation, service excellence, and global reputation. Attendees can expect to explore an extensive array of over 100,000 exclusive designs, including fancy-shaped diamond jewelry and couture collections.

The exhibition serves as a dynamic platform for prominent retailers and buyers to engage directly with manufacturers. Past editions have facilitated thousands of unique meetings, fostering collaborations and business opportunities that have significantly contributed to the growth of the gem and jewelry sector. Retailers will have the opportunity to discover the latest trends, source exquisite pieces, and establish enduring partnerships with esteemed manufacturers. ​

Since its inception, the IGI D Show has evolved from a buyer-seller meet into a community-oriented networking event that brings together like-minded individuals dedicated to advancing the global gem and jewelry industry. With over 19 successful editions, including the inaugural international show in Dubai, the IGI D Show continues to set benchmarks for excellence and innovation in the industry.

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