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10 million to lose job by March in export units

January 6, 2009

Ten million people in the export sector will be out of job by March this year, as Indian goods find fewer buyers in the international market which is battling the worst crisis since 1929.

"There will be 10 million job losses by March," Federation of Indian Export Organisations president A Sakthivel said on Tuesday.

Indian exports, which account for just about 20 per cent of the country's gross domestic product, are a highly labour-intensive activity, employing 150 million people. Those in the handicrafts, textiles, knitwear, leather, and gem and jewellery sectors will be the worst affected.

Text: PTI

Image: An artisan paints earthen pots at a stall during a handicrafts fair in Siliguri. | Photograph: Rupak De Chowdhuri/Reuters

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