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India’s gem and jewellry exports provisionally stood at $20.9 billion in the year to March 2008, up 22.27%, due to increased trading, the Gem & Jewellry Export Promotion Council said. “This growth is a result of increase in trading activities as actual manufacturing has shown a decline,” chairman Sanjay Kothari said. “Availability of raw material is a problem and international demand is less,” he added, referring to the decline in local manufacturing activity.

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