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Recession robs the shine off from diamond industry
Surat, October 20, 2008 : The diamond industry of Surat in Gujarat is fighting hard to survive the current recessionary trends. Diamond exporters are feeling the heat of the U.S. meltdown.
With the demand gone down not only in the international market but in the domestic market as well, more orders are being cancelled every day. The traders estimate that they have lost around 20-30% of their business.
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Story first published: Monday, October 20, 2008, 17:28 [IST]
