Gems and jewellery exports to key markets, including the US, the United Arab Emirates and Europe slipped 36%, 26% and 26%, respectively, in November when compared with the previous month, data released by the commerce ministry showed.
While exporters expect a rebound on the back of Christmas and New Year's sales, industry figures said recessionary conditions next year may pose further challenges for the sector.
To be sure, free trade deals with the UAE and Australia are expected to boost exports from the sector. India is also negotiating trade deals with the UK and EU, which could help boost gems and jewellery exports.
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