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Gems & jewellery exports down 9.3% in 2012-13

India's gems and jewellery exports declined by 9.3 per cent to $39 billion in 2012-13 because of lower demand from global markets, especially in the US and Europe.

During 2011-12, these exports stood at $43 billion, according to the data provided by the Gems and Jewellery Export Promotion Council (GJEPC)

'The exports have declined to $39 billion last fiscal.

This is due to less number of orders from major markets like America and Europe,' GJEPC Chairman Vipul Shah told reporters on the sidelines of a function here.

The major markets for Gems and Jewellery exports include the UAE, the US and Europe.

Shah said, however, the exports would look up as the demand in the Western markets is expected to pick up this fiscal.
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