Industry News by Nemesis

Indian Jewelers End Strike over Excise Duty

March 21, 2016

Jewelers in India have called off a 19-day strike against a new tax on the industry after the government said the excise department will not “harass” them, Reuters reported, citing the head of the India Bullion and Jewellers Association (IBJA). 

"We have called off [the] strike. From tomorrow jewelers will open shops," the news agency cited IBJA president Mohit Kamboj as saying. 

"The excise duty will remain there, but the government has assured us officials from excise department will not harass jewelers.” 

Jewelers across India went on strike from March 2 over the new 1-percent excise tax on jewelry, which they claimed would damage an already struggling sector. The walkout culminated in a rally in New Delhi March 17, the same day that members of the diamonds trade joined the strike.

 

Source: Rapaport

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