International News
India is Partner Country at INHORGENTA 2025
Recognition of India’s growing influence in the global GJ industry

India proudly takes on the role of official partner country at INHORGENTA 2025, marking a pivotal moment in the global gem and jewellery industry. The show, taking place from 21st to 24th February, was inaugurated at the India Pavilion by Mr. Shatrughna Sinha, IFS, Consul General of India, Munich; Mr. Kirit Bhansali, Chairman, GJEPC; Mr. Stefan Rummel, CEO of Messe München; and Ms. Stefanie Maendlein, Exhibition Director of INHORGENTA.”
Curated by the Gem & Jewellery Export Promotion Council (GJEPC), the India Pavilion is showcasing a stunning array of diamond jewellery, gold and platinum pieces, fine jewellery, and loose gemstones. These collections highlight India’s ability to blend traditional craftsmanship with contemporary design, offering global buyers unmatched quality and artistry.
Speaking at the inauguration, Mr. Sinha Said, “Germany is one of India’s key trading partners in Europe, with strong exports in leather, auto components, chemicals, and electronics. In 2023, bilateral trade between India and Germany reached an impressive USD 33.33 billion, showcasing the immense potential of our economic relationship. I am glad that for the first time India is the official partner country at INHORGENTA 2025. This partnership is not just a recognition of India’s growing influence in the global gem and jewellery industry, but also a continuation of the deep-rooted 500-year-old economic and cultural bond between India and Germany. It will pave the way for new collaborations, opening up fresh opportunities for the mutual benefit of both nations.”
Kirit Bhansali, Chairman, GJPEC said, “India has long been a trusted global partner, renowned for its manufacturing excellence and now emerging as a hub for technology and design in the jewellery industry. With a rich legacy of artistry, USD 32 billion in exports to key markets like the USA, Europe, the Middle East, and China, and a strong focus on skill development, innovation, infrastructure, and global standards, India is shaping the future of the industry. Our partnership with INHORGENTA fosters collaborations that will drive growth and elevate the global gem and jewellery sector together.”
Bhansali further added, “India is actively driving diamond promotion by collaborating with global stakeholders, including De Beers and Chow Tai Fook, for consumer campaigns in China. Additionally, GJEPC has collaborated with De Beers to launch a B2B Campaign called INDRA – Indian Natural Diamond Retailer Alliance. This campaign will focus on supporting jewellery retailers in India to strengthen demand and push diamond jewelley sales.”
Talking about the Collaboration with India, Mr. Stefan Rummel, CEO, Messe München said, “We are thrilled to have India as the partner country at INHORGENTA 2025. This partnership will deepen trade relations between India and Germany, showcasing India’s rich history and exceptional craftsmanship in jewellery. In collaboration with GJEPC, we look forward to presenting India’s brilliance through the India Pavilion and various special activities.”
The India Experience Lounge at INHORGENTA 2025 offers visitors a multi-sensory journey into India’s rich heritage, blending craftsmanship, culture, and innovation. From the exquisite jewellery and Manchaha Rugs, handwoven by rural artisans, to the flavors of Kashmiri Kahwa and Masala Chai, every element engages the senses. The aroma of sandalwood and the melodic strains of the Sitar create an immersive atmosphere, making the lounge a true celebration of India’s artistry and tradition.
Additionally, the Brand India Gallery displays masterpieces from the Artisan Jewellery Design Awards, demonstrating India’s exceptional talent and creative excellence.
A panel discussion, The Rising Indian Jewellery Influence in the Global Landscape, will explore India’s growing impact on the global market, featuring industry experts Alice Cicolini, a high-end jewellery designer based in the UK, and Radhika Somaia, a brand architect, curator, and jewellery contributor.
Partnering with India goes beyond acquiring exquisite gemstones and jewellery—it’s about accessing creations that seamlessly blend tradition with modernity. Powered by ethical sourcing, advanced technology, and skilled artisans, India continues to set global benchmarks in quality, innovation, and design.

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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