Economy

Jewellery federation extends strike

Our Bureau Kolkata | Updated on November 14, 2017 Published on March 20, 2012

The All-India Gems and Jewellery Trade Federation has decided to extend its strike — which was to end on Monday — by two more days to protest against the Budget proposals announced on Friday. The Federation had earlier gone on a three-day strike from March 17-19, urging the Government to roll back its proposals to bring unbranded precious jewellery under the excise duty net and raise Customs duty on gold bars and coins.



Close to three lakh jewellers under the trade federation have joined the strike by shutting all jewellery establishments as a mark of protest.



“The All India Gems and Jewellery Trade Federation (GJF) has been compelled to extend the strike by two more days due to extensive pressure from root-level jewellers across the country,” Mr Bachraj Bamalwa, chairman, GJF, told Business Line.



Mr Bamalwa and other members of the trade federation met the Union Finance Minister, Mr Pranab Mukherjee, on Monday to present their concerns.



According to Mr Pankaj Parekh, Chairman, Eastern Region, The Gem and Jewellery Export Promotion Council, there has been no positive outcome from the meeting with the Finance Minister.



“We are trying to drive our point home through the MPs. We have already roped in 70 MPs and plan to bring in 30 more to support our cause,” Mr Parekh said. Jewellers in States such as UP, Punjab, Jharkhand, Gujarat and West Bengal have gone in for an indefinite strike, till there is a roll-back of proposals, Mr Parekh said.



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Published on March 20, 2012
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