According to Gem and Jewellery Export Promotion Council overall exports of gems and jewelry are down by 34.25 percent in November 2008. At the manufacturing level, exports of cut and polished diamonds are down by 20.18 percent for November 2008, compared with last year, and there has been a 20 percent reduction in order for the period from April to October 2008.
Useful link:
www.gjepc.org
Not a pretty picture. The gem and jewelry sector is losing luster and aren't anymore brilliant and scintillating. I think the Indian government should step in (via credit fund) and do the right thing to help the industry.
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