April 1, 2012

Strike continues after a day's break

The on going strike by jewelers across India was called off yesterday but has continued from today on account of arrest of jewelers in New Delhi.
Meanwhile the all-Rajasthan bandh has been postponed on accOunt of the Indian government's assurance to take back the proposed excise duty on jewelers.



1 comment:

  1. Indian jewellers end strike after government delays gold tax
    Sunday, April 1, 2012
    By SWANSY AFONSO, Bloomberg
    MUMBAI — Jewellers in India, the world’s biggest bullion buyer,
    plan to suspend the longest nationwide strike after the
    government said that it will delay the implementation of an
    increase in excise duty on non-branded ornaments.
    “We have appealed to our members to open shops from April 2
    after the government assured us that no jeweller will be forced to
    register to pay excise duty,” said Bachhraj Bamalwa, chairman of
    the All India Gems & Jewellery Trade Federation. “The finance
    ministry has written to us saying that no coercive action will be
    taken.”

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