Author: Ruchi Singla

The World Federation of Diamond Bourses (WFDB) has formally expressed support for an industry-wide request to the U.S. Government, urging the exemption of natural diamonds from proposed import tariffs. The appeal centres around the economic impact that such duties could have on the U.S. jewellery sector and was initiated by the World Diamond Council (WDC).The WDC statement, released earlier this week, calls for natural diamonds (HS Codes 7102.10 and 7102.31) to be included on Annex II, exempting them from the proposed tariffs. The WDC has received backing from multiple trade bodies, including the Antwerp World Diamond Centre (AWDC), the International…

The newly concluded Free Trade Agreement (FTA) between the United Kingdom and India is expected to impact trade in the gem and jewellery sector, with potential effects for manufacturers, exporters, and retailers in both countries. According to the Gem & Jewellery Export Promotion Council (GJEPC), the deal could see India’s jewellery exports to the UK double to $1 billion within a year of implementation, with broader bilateral trade in the sector projected to reach $7 billion in the coming years.A Framework for GrowthThe FTA is part of a wider comprehensive strategic partnership between the UK and India, aimed at enhancing…

Diamonds Do Good has completed its first “Diamonds Do Good in Action” trip to Botswana. The initiative was designed to provide jewellery industry participants with on-site exposure to natural diamond mining operations and related community projects.The itinerary included visits to the Jwaneng diamond mine and a local diamond cutting and polishing facility. Attendees observed various stages of the supply chain and met employees, including individuals with disabilities, working within the sector.The delegation also met with government representatives to learn how diamond revenues have contributed to infrastructure development, including roads, schools, and hospitals. The visit also included time in the Okavango…

The Goldsmiths’ Centre has opened applications for Shine 2025, a free four-month professional development programme aimed at emerging jewellery and silversmithing businesses in the UK. The programme will support up to 10 early career designer-makers in developing skills to present, price, sell and display their collections across digital and physical platforms.Programme StructureRunning from mid-2025, Shine will combine live webinars, self-paced online modules and practical assignments. Participants will receive training in areas such as collection photography and video, pricing strategies, and preparation for exhibitions and selling events.Participants will present their work through the Goldsmiths’ Centre’s online shop, with the programme concluding in…

De Beers has reported a 44 per cent fall in rough diamond sales revenue for the first quarter of 2025, according to figures released by its parent company, Anglo American. The miner sold 4.7 million carats across its first two sights of the year, generating $520 million, compared to $925 million from 4.6 million carats in the same period of 2024. The average price per carat declined by 38 per cent to $124.Sales and Pricing TrendsThe decline in average price reflects a combination of a 15 per cent drop in De Beers’ rough diamond price index, a shift in the…

The National Association of Jewellers’ Institute of Registered Valuers (IRV) has confirmed the programme of workshops and masterclasses for the 2025 Valuers’ Conference, taking place on 7–8 June at Edgbaston Park Hotel, Birmingham. The Conference will feature keynote talks, workshops, and masterclasses for professionals across the jewellery trade, including valuers, retailers, designers, students, and sales professionals. The workshops and masterclasses will run throughout Sunday, 8 June, offering 26 sessions covering a range of technical and business topics relevant to the sector.Sessions have been extended to 90 minutes to allow for more detailed instruction.Workshop sessions include:Heather Callaway, Chair of the IRV, said,”We…

Fine jewelry manufacturer Jewelex and wearable technology company Ultrahuman have unveiled Rare, described as the world’s first luxury smart ring. The collaboration was announced at CES 2025 in Las Vegas, bringing together traditional craftsmanship and modern health monitoring technology.Jewelex, with a 59-year heritage in fine jewelry, and Ultrahuman, known for health-focused wearables such as the Ultrahuman Ring AIR and Ultrahuman M1 glucose monitoring platform, have partnered to integrate jewelry techniques with embedded health sensors.Manufacturing and Design DetailsRare is produced using CNC machining for micron-level accuracy, followed by hand-finishing. Jewelex applies sustainable practices, operating on 100% renewable energy since January 2023…

A diamond cutter in Israel is facing legal proceedings that could see him personally liable for the full value of a $270,000 (approximately 1 million shekels) diamond that was destroyed during the cutting process. The case involves the Israel Diamond Exchange (IDE) Arbitration Tribunal, two supplier companies, and legal proceedings initiated in the Tel Aviv District Court.Background to the IncidentThe diamond cutter, identified only as Y, was employed by a company owned by his brother when the incident occurred. While processing the stone — a recognised high-risk aspect of diamond processing — the diamond shattered, rendering it worthless. Such breakages…

Sanctions imposed by the G7 countries on Russian diamonds are proving largely ineffective, according to Pyotr Karakchiev, head of the international cooperation department at Alrosa, speaking at the Khozaktiv-2025 corporate forum. Karakchiev said the absence of a global tracing system for rough diamonds is a key factor limiting the sanctions’ impact.Tracing Deficiencies and Industry-Specific ChallengesKarakchiev stated that although sanctions “force us to come up with new means of interaction,” they have not achieved the intended effect. “The sanctions that our adversaries dreamed up were supposed to affect us in a big way but they are not achieving the necessary effect,…

Swiss watch exports rose by 1.5% year-on-year in March 2025, reaching CHF 2.13 billion, following declines in the previous months. The growth was primarily driven by increased demand from the United States and the United Kingdom, while markets in Asia continued to show signs of contraction. Despite the monthly gain, export figures for the first quarter of 2025 remained slightly negative overall, down 1.1% to CHF 6.11 billion.Market Performance by RegionThe United States remained the leading market for Swiss watches, with exports rising 13.7% in March to CHF 405.2 million. Japan and the United Kingdom followed with growth of 1.1%…

Bulgari has expanded its production facility in Valenza, Italy, making it the largest single-brand jewellery manufacturing site globally. The site, operated under LVMH ownership, now covers more than 355,000 square feet and is expected to create 500 additional jobs by 2029. The development consolidates production and introduces expanded training capabilities.Increased Manufacturing Capacity and Workforce GrowthSince opening in 2017, Bulgari’s Valenza site has grown from 14,000 square meters to more than 33,000 square meters following the addition of two new buildings. Employee numbers have increased from 370 to over 1,100, with a target of 1,600 to 1,700 workers by the end…

India’s gem and jewellery exports for the financial year April 2024 to March 2025 totalled US$28.50 billion (₹2,41,089.50 crore), reflecting an 11.72% decline year-on-year in US dollar terms, according to provisional figures released by the Gem & Jewellery Export Promotion Council (GJEPC). Imports over the same period fell by 11.96% to US$19.61 billion (₹1,65,819.35 crore).For March 2025, exports showed a slight increase of 1.02% year-on-year to US$2.58 billion, while imports decreased by 7.2% to US$1.94 billion.Cut and Polished DiamondsExports of cut and polished diamonds totalled US$13.29 billion (₹1,12,410.58 crore) for FY 2024–25, representing a 16.75% year-on-year decline. Imports decreased by…

The Sunderland Collection and GRIMA have announced the release of their second collaborative jewellery collection, Dürer Wings, drawing on imagery from a rare 16th-century map by Albrecht Dürer.The collection includes a series of handcrafted earrings inspired by Dürer’s World Map as a Sphere (1515), specifically the illustrated “windheads” that appear around the map. The collection consists of three limited-edition earring designs—six pairs of each—made in textured gold with diamonds, textured platinum with diamonds, and platinum with pavé diamonds. Two unique pieces were also produced: one pair in hand-carved frosted rock crystal and diamonds, and another in hand-carved black jade and…

The British Academy of Jewellery (BAJ) will hold an online information session on 30 April 2025 for employers in the jewellery sector interested in learning more about apprenticeship opportunities.Webinar Details and AimsTaking place at 16:00 BST, the session will provide an overview of BAJ’s Jewellery Apprenticeship programme, including training content, available government funding, and employer guidance. It is intended for business owners, brand representatives, workshop managers, and HR professionals considering workforce expansion through apprenticeships.Miranda Sharpe, Apprenticeship Coordinator and Birmingham Centre Lead at BAJ, said:“This is a great opportunity for employers to have their questions answered regarding Jewellery, Silversmithing and Allied…

The Victoria and Albert Museum will open Cartier: The Exhibition on 12 April 2025, featuring over 350 pieces created by the French jewellery house. The exhibition traces Cartier’s development from its origins as a Paris-based family firm to an international jeweller, with an emphasis on its long-standing connections to the British royal family.Curated by Helen Molesworth, the show brings together loans from international institutions, private collectors, and the Royal Collection. The display presents examples of Cartier’s design and craftsmanship from the early 20th century to the present day.Royal Patronage and Historic CommissionsCartier’s relationship with the British monarchy began in 1902,…

The British Academy of Jewellery (BAJ) has received a ‘Good’ rating in its latest inspection by Ofsted, maintaining the grade it was awarded in 2019. The 2025 review focused on the academy’s Further Education programmes, including the Level 3 Diploma in Jewellery Design and Manufacturing and the Level 3 Jewellery, Silversmithing and Allied Trades Professional Apprenticeship.Ofsted’s inspection evaluated the quality of teaching, learning, leadership and management, as well as the support provided to learners and apprentices. Inspectors reported that learners remained engaged in their courses and showed commitment to their studies, including in technically complex areas such as computer-aided design (CAD)…

The European Union has confirmed that polished diamonds will not be subject to retaliatory import tariffs in response to new US trade duties, following concerns raised by the Antwerp World Diamond Centre (AWDC) about the potential impact on Belgium’s diamond sector.Context of the Tariff DisputeThe EU’s announcement comes amid broader trade tensions, as the United States moves forward with a revised tariff policy. As of 9 April, the US administration introduced a 90-day tariff pause for most countries, excluding China, while raising tariffs on Chinese goods to 125%. Although the EU had considered reciprocal measures, polished diamonds have been excluded…

Russia and Belarus have announced plans to launch a joint platform for jewellery exports, focusing on markets including China, the UAE, Vietnam, and Southeast Asia. The plan was confirmed after a meeting between Russia’s Deputy Finance Minister Alexei Moiseyev and Belarus’s Finance Minister Yuri Seliverstov in Minsk on 4 April.Marketplace Development and ScopeThe project, due to launch in test mode later in 2025, will offer a shared online platform for exporting jewellery from both countries. The Eurasian Development Bank, co-founded by Russia and Kazakhstan, is supporting the initiative.”A marketplace for the sale of Belarusian and Russian jewelry on foreign markets…

The Gemological Institute of America (GIA) has broadened the scope of services offered at its Hong Kong and Dubai laboratories in response to new U.S. tariffs and the associated logistical challenges. The changes affect where larger and fancy colour diamonds can be submitted for grading, in light of new U.S. import duties.Expanded Carat Limits in Hong Kong and DubaiEffective immediately, GIA’s Hong Kong and Dubai labs will accept D-Z colour, rough or polished diamonds weighing up to 9.99 carats. This is a significant increase from the previous maximum submission weight of 3.99 carats for both locations. In addition, Hong Kong…

De Beers Group has announced plans to allocate its highest level of category marketing spend in 10 years to support natural diamond promotion. The company has stated it will match financial contributions from national marketing initiatives during 2025 and is inviting proposals from stakeholders across the industry.Joint Efforts with Industry OrganisationsDe Beers is working with a number of trade bodies, including the Antwerp World Diamond Centre (AWDC), the Gem and Jewellery Export Promotion Council (GJEPC), and the Dubai Multi Commodities Centre (DMCC), to support marketing campaigns for natural diamonds in various regions.The company has confirmed that strategic campaigns have already…

The United States’ recent decision to impose sweeping import tariff increases—part of a broader strategy dubbed “Make America Wealthy Again”—is poised to trigger substantial shifts across the global gem and jewellery supply chain. With new tariff rates varying by country, and India facing a 26% import duty on jewellery, industry leaders are warning of rising costs, disrupted trade flows, and potential relocation of manufacturing operations to mitigate the impact.Overview of the New Tariff PolicyAnnounced in April 2025, the new US tariff structure affects jewellery imports from a range of key suppliers. Rates differ by trading partner, with the European Union…

The National Association of Jewellers (NAJ) has confirmed the keynote speakers and opened registration for the 2025 Valuers’ Conference, which will take place on 7–8 June at the Edgbaston Park Hotel in Birmingham. Bonhams is the headline sponsor.The event will include a programme of presentations, workshops and masterclasses aimed at professionals across the jewellery sector, including valuers, retailers, designers, students and sales professionals seeking to update or broaden their expertise.Keynote Speakers Announced for 7 JuneThe opening day will feature six keynote presentations from professionals covering areas including auction trends, gemmological research, cultural valuation and market analysis:Workshops and Masterclasses on Day…

Jewellery and watch retailers reported an increase in sales volumes in February 2025, according to new data from the Office for National Statistics (ONS). The sub-sector was identified within the ‘other non-food stores’ category as having contributed to monthly growth, with retailers attributing the rise to increased consumer demand for gold during a period of economic uncertainty.This performance formed part of a wider 3.1% increase in non-food store sales volumes, which includes department stores, clothing, household goods, and other non-food retailers. Monthly retail sales volumes in February were at their highest level since July 2022, following a 1.4% increase in…

Jewellery dating from the medieval and early modern periods, discovered by metal detectorists, featured in the Jewellery, Watches, and Objects of Vertu auction held by Noonans Mayfair on 27 March in London. The sale included items of historical significance, such as a 17th-century memorial ring linked to a judge involved in England’s final witch trials, a medieval bishop’s sapphire ring, and a 13th–14th century gold posy ring.Memorial Ring Linked to Witch Trial Judge Fails to SellA late 17th-century memorial ring, found by detectorist Steve Pulley in January 2020, was among the more historically significant lots. The piece, crafted in gold and…

Anglo American has entered preliminary discussions with banks regarding a potential initial public offering (IPO) of its diamond unit, De Beers. The move forms part of a broader restructuring initiative announced last year by Anglo American CEO Duncan Wanblad, as the company seeks to divest from non-core assets and focus on higher-growth sectors. Alongside the IPO preparations, Anglo is simultaneously exploring the possibility of an outright sale of De Beers.De Beers: Final Step in Anglo’s Asset DivestmentDe Beers is the last major business unit in Anglo American’s planned exit from several commodity sectors. Since announcing its restructuring, the company has divested…

The International Colored Gemstone Association (ICA) has confirmed a lineup of speakers for its upcoming Congress, to be held in Brasília, Brazil, from 19–22 May 2025. Susan Jacques, President and CEO of the Gemological Institute of America (GIA), and Dr Gaetano Cavalieri, President of CIBJO, the World Jewellery Confederation, are confirmed speakers for the event. The Congress will be hosted by IBGM Brazil at the Royal Tulip Brasília Alvorada, a venue located in one of the world’s leading gemstone-producing regions.Seminar Focus: “Gems for Generations”The theme of the 2025 ICA Congress is “Gems for Generations”, reflecting a focus on long-term sustainability and…

India’s gem sector is preparing for potential US tariffs on exports of polished diamonds and jewellery, which could come into effect on 2 April 2025. The move forms part of wider reciprocal trade measures under consideration by the US government, with India’s Gem & Jewellery Export Promotion Council (GJEPC) currently in contact with industry stakeholders and government officials to assess the likely impact and seek possible solutions.Export Concerns Amid UncertaintyThe United States is India’s largest market for polished diamonds, with gross exports totalling $6.69 billion in 2024, according to data from the United States International Trade Commission. Currently, loose polished diamonds…

Jewellery company Ethica Diamonds has partnered with the Born Free Foundation and its ambassador Joanna Lumley to create a bespoke pendant that raised £10,000 at a charity auction in London.The pendant was designed by Ethica Diamonds’ in-house designer Laura Basham, with input from Joanna Lumley. It features 3.65 carats of green lab-grown diamonds and 2.04 carats of light blue lab-grown sapphires, set in recycled yellow gold. The piece was developed in line with both organisations’ environmental themes, using materials selected for their lower environmental impact.Supporting Wildlife ConservationThe Born Free Foundation is an international wildlife charity focused on conservation, rescue, and…

The Natural Diamond Council (NDC) has published a new report, Diamonds of Botswana, providing an overview of the diamond industry’s role in Botswana’s national development. The report follows previous NDC publications examining the role of natural diamonds in producing countries.It outlines developments in Botswana since the discovery of diamonds in the 1960s, focusing on how diamond revenues have contributed to infrastructure, education, healthcare and environmental programmes.Economic Impact and Revenue DistributionNatural diamonds represent a significant portion of Botswana’s economy, accounting for around 25% of the country’s GDP, 80% of its exports, and approximately one-third of its fiscal revenue. The report states…

The National Association of Jewellers (NAJ) has announced the first confirmed speakers for its 2025 Retail Congress, which will take place on Tuesday, 3 June at Drayton Manor Resort. Organised by the NAJ’s JET Business Network (JBN), the one-day event will follow the theme “Lessons from the Best in Class.”Retail Congress is positioned as a platform for independent jewellers to gain insight from peers and professionals across the wider business landscape, focusing on practical approaches to core commercial functions. Areas to be covered this year include sales, marketing, leadership, differentiation, and customer experience.First Speakers ConfirmedThe initial line-up features several JBN…