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Indian Diamantaires Urged to Join Jewelers’ Strike
Mar 16, 2016 11:25 AM
By Rapaport News
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RAPAPORT... The Mumbai Diamond Merchants’ Association (MDMA) has
recommended members of the diamond industry go on strike March 17 in support of
the wider shutdown among jewelers protesting a new excise duty.
In a note to members March 14 seen by Rapaport News,
MDMA president Bharat Shah said the trade body and the Diamond Exports
Association had asked all those in the diamond and diamond-studded jewelry
industry to down tools Thursday. The note included a call on members of the
Bharat Diamond Bourse and the Gem & Jewellery Export Promotion Council to
join in the strike.
The walkout is in opposition to a new 1-percent excise duty on
jewelry, which trade bodies such as the All India Gems & Jewellery Trade Federation
(GJF) claim will have a negative impact on an already struggling industry.
Jewelers from across the nation are scheduled to gather in New Delhi on
Thursday for a rally against the government’s plans.
Jewelers across India have been away from their businesses
since March 2, a protest that is costing the sector an estimated $150
million per day.
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Tags:
India, jewelers, Jewelry, Rapaport News
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