ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Joint Ventures Abroad- Rolling Downhill

October 5, 1985 nings in comparing its performance with that of other sectors. According to its own figures, as against aggregate exports of Rs 1304.92 crore during 1984-85, foreign exchange earning net of imports was around Rs 344 crore only. This, however, need not detract from the very valuable contribution, exports of gems and jewellery is making to the country's foreign exchange pool and/or to the national economy. During the decade 1975-76 to 1984-85, the diamond export trade earned for the country net foreign exchange worth Rs 1,863 crore. This is not all. The export trade has never received any form of cash compensatory support. And what is more, gem and jewellery is a labour- intensive industry employing more than half a million people as artisans, brokers, traders and exporters. It is said to be the least capital-intensive industry in the country with negligible consumption of power and causing no pollution whatsoever.

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