Khullar, however, added that the silver lining was that trade in gems and jewellery was picking up. The gems and jewellery sector was, perhaps, the worst hit because of the slump in external demand.
Industry body Federation of Indian Export Organisations (FIEO) reacted to the figures expressing concern over the possibility of a further increase in job losses and pressed for sops for the sector in the upcoming Union Budget to be presented by the finance minister Pranab Mukherjee next Monday.
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