India's provisional gem and jewellery exports totalled $20.9 billion in the full year ended March 2008, an increase of 22.27%, according to the Gem and Jewellery Export Promotion Council (GJEPC). Exports in 2007-08 rose to $20.89 billion from $17.1 billion in the previous year. However for 2008-2009, the GJEPC said it expected 2008 – 2009 to be a “difficult” year. “We are going to have a difficult year, even if efforts are made to other markets, it's not going to be that easy,” chairman Sanjay Kothari said in a statement. "For other countries to catch up, it is going to take a huge effort, Kothari said. He also said slowing economic growth in the US has contributed to a drop in orders. Total imports of gem and jewellery provisionally grew 32.5% to $18.5 billion in 2007/08, compared to a year earlier.

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