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Indias jewellery industry dismisses 100,000 workers
 
Indias jewellery industry dismisses 100,000 workers
Indias gems and jewellery industry has dismissed about 100,000 workers, an industry leader said.

More than 1.3mn people and their families are depended on the US$50bn Indian gems and jewellery industry that has been hit hard with exports falling and imports of rough diamonds remaining suspended for a month.

The Gems and Jewellery Export Promotion Council (GJEPC), which apprehended 40% reduction in demand, has since withdrawn its call for suspension of imports. Of the US$50bn industry, exports account for US$20bn. The country manufactures 90% of the worlds diamonds as per the industry players, while Surat alone accounts for 70%.

Posted On : 12/29/2008 5:45:04 PM

 
 
 
Indias jewellery industry dismisses 100,000 workers