Gold Jewellers Strike Extended, Business Down

Gold Jewellers Strike Extended, Business Down

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Asia Bizz: The jewellers strike in India extended to its 12th day on March 28, 2012. Due to the strike, dealers have said that it has weakened business of the yellow metal and there have been no imports either.

The jewellers have been protesting for the removal of excise duty on unbranded gold jewellery since March 17, 2012. Recently, the Indian finance minister Pranab Mukherjee had agreed that he would look in to the demand for the removal of the excise duty in the parliament , but will not remove the import duty on gold and platinum jewellery.

Meanwhile the strike is still on and the members of the All India Gems and Jewellery Trade Federation will meet the finance minister tomorrow.