Sections of Indian Jewelry Industry Restart Strike
March 29, 16
(IDEX Online News) – Indian jewelry trade bodies including the All India Bullion Jewellers and Swarnkar Federation (AIBJSF) have announced that they will not withdraw their strike until the government rolls back the proposed 1 percent excise duty, according to a report on dnaindia.com.
Previous reports concerning the end of the strike seem to have been premature, as some sections of the jewelry industry have continued their strike into a fourth week. According to a report in The Times of India, jewelers plan to intensify the movement in the days to come. It is believed that each city that protests will carry placards calling for the removal of finance minister Arun Jaitley.
Jaitley has vowed that small artisanal businesses will not be harassed by tax authorities, but he reiterated that luxury items should be taxed.
"Government should take traders into confidence and open the door for discussion on the matter,” said Confederation of All India Traders (CAIT) president Praveen Khandelwal. “Traders are not running from paying taxes. Traders’ profits are very low and a 1-percent levy is very high.”