The International Gem & Jewellery Show (IGJS) Jaipur, held from 3rd to 5th April 2025, once again transformed Jaipur into a global hub for the gem and jewellery trade. Organised by the GJEPC, the event drew 50 of India’s leading gem and jewellery exporters and more than 180 buyers from 28 countries spread across the world, showcasing Jaipur’s craftsmanship amidst evolving market dynamics.
Exhibitors at IGJS Jaipur 2025 reported a spectrum of experiences, with increased footfall and business often juxtaposed against uncertainties about a post-US tariff world. Krishna Behari Goyal of Dwarka Gems described a busier show than last year, crediting better-curated buyer profiles and heightened market interest. Specialising in silver and studded gold jewellery, Goyal noted buyers opting for broader selections with post-purchase modifications. On US tariffs, he sees India’s competitive edge—lower than China and Thailand—softening the blow, with costs likely split between consumers and exporters.
Ramsaran Tambi, Director of Emerald Mines praised its buyer-supplier interaction potential but urged more focus on attracting larger retail chain buyers. Evergreen demand for emeralds and rubies persists, with inquiries from Spain and Uzbekistan, though he noted many attendees are small-scale, one-time buyers. Similarly, Digant Toshniwal of Brasilgo Jewels Pvt. Ltd., in his third outing, highlighted repeat leads from the US and Canada converting into orders. His tariff workaround was for a robust shipping overhaul, potentially via GJEPC partnerships with DHL or India Post.
Exhibitor Harsh Bhatia, Business Development Manager, Derewala Industries Ltd. enjoyed strong interest from Uzbekistan and France for brass, silver, and gold-plated mid-ticket jewellery, while Ajay Lodha, Director of GIE Jewels, targeting multi-chain stores, remained cautiously optimistic despite unclear buyer seriousness. Exporting to the US and UK, Lodha anticipates consumers absorbing tariff costs due to precious metal price floors.
Samridhi Jain, Creative Director of Pukhraj Gems Exports, a second-time exhibitor, was thrilled with the response, particularly for brass and sterling silver jewellery with natural gemstones. Seeing demand from the UK, US, Brazil, and South America, Jain emphasised their one-stop solution—cutting and crafting in-house—as a draw. On tariffs, she noted varied buyer reactions, with optimistic clients unfazed due to strong clientele. Parul Dhonda, Sales & Marketing Officer of SKSM Diamonds Impex Limited, specialising in natural yellow and pink diamonds, reported a familial reunion with last year’s clients alongside new interest, primarily from the US and Europe. Despite a slower market, demand exceeded expectations, with Dubai and Saudi Arabia eyed as tariff buffers.
Rahul Jain, Marketing Executive, Kaypee Exports (Lunawat Gems), in his debut, saw robust inquiries for silver jewellery and Arizona’s “sleeping beauty” turquoise, especially from the US and Australia. With a factory employing 1,000 and advanced CNC technology, Rahul Jain’s one-stop model mirrors Samridhi Jain’s, targeting buyers seeking seamless stone-to-jewellery solutions. He views the India-Australia free trade agreement as a boon, boosting duty-free growth, while US tariff strategies remain fluid pending buyer negotiations.
Buyers lauded IGJS Jaipur’s intimate scale but sought broader offerings. Suzanne Eid, GJEPC’s Middle East Coordinator, brought 25 delegates from Saudi Arabia, UAE, Kuwait, Lebanon, Jordan, and Egypt, reporting satisfaction among retailers, wholesalers, and manufacturers. Limited gemstone variety—e.g., rubies—prompted calls for more exhibitors.
Dallas Prince of Dallas Prince Designs (USA) vowed to maintain Indian sourcing despite tariffs, advocating a shared cost model to preserve quality. First-timer Andrew Hinds of UK-based jewellery retail chain F.Hinds with 130 stores, praised the curated supplier mix and proximity to factories, enhancing his coloured stone sourcing.
Jim Zulick of MBI Inc. (Danbury Mint, USA) found the smaller venue conducive to productive supplier meetings, eyeing India’s growing role. Mahdi K. of Khosronezhad Jewellery Gallery (Iran), a second-time attendee, valued networking for his diamond and gold designs, while Bahareh E. of Avisha Jewellery (Iran), a first-timer representing stores in Iran, Turkey, and Dubai, marvelled at unique designs and pearls. Stephen Adair of Combined Jewellery Services Pty Ltd (Australia), a loose gemstone wholesaler, appreciated the variety, sourcing semi-precious and precious stones. The India-Australia ECTA trade agreement eased business, though rising prices remain a challenge; he hopes for a larger 2026 show.
Tariffs and Beyond: Navigating a Shifting Landscape
US tariffs dominated discussions, with India’s 26-27% rate (versus Thailand’s 34% and China’s 37%) offering a competitive edge. Strategies range from Dallas Prince’s burden-sharing and Samridhi Jain’s tariff-agnostic optimism. Exhibitors like Dhonda see emerging markets like Dubai as gap-fillers, while Rahul Jain leverages Australia’s duty-free access. Logistical hurdles, particularly shipping, emerged as a bottleneck, with calls for streamlined systems echoing across interviews.
Dallas Prince remarked, “Regarding sourcing from India, I will adapt to some of the tariff situation. I’m not going to drop any business because of it. I think there are ways to make the best out of the numbers you have. I’m not one to cut back on quality—that’s why I’m here. The same quality is there, and if there’s a higher price to pay for that, I’m willing to do it to stay working with India.
“As for who will pay that higher price—whether it’s the US consumer, the exporter, or the retailer—there’s a little bit of a split between all of those things. If we all work together, then we can all succeed in the end. I don’t think any one person has to take the entire tariff burden to begin with, so hopefully that’ll work out.”
IGJS Jaipur 2025 reaffirmed Jaipur’s status as a gem and jewellery powerhouse, blending heritage with adaptability. Exhibitors seek refined buyer vetting—e.g., Lodha’s post-show conversion tracking and Toshniwal’s appointment system—while Suzanne Eid pushes for expanded exhibitor diversity.
GJEPC plans to scale up next year’s event (9th to 11th April) by hosting 500+ buyers and showcasing 150+ exhibitors, aiming to elevate IGJS’s global stature. Amid tariffs and shifting demands, the show highlighted resilience, collaboration, and innovation as the industry’s cornerstones, setting the stage for a dynamic future.