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Indian Jewelers’ Strike Ends Ahead of Gold-Buying Festival

Apr 17, 2016 10:40 AM   By Rapaport News
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RAPAPORT... A strike by Indian jewelers to protest a tax has been called off permanently, according to the All India Gems & Jewellery Trade Federation (GJF).

At least 90 percent of jewelers from around the country returned to work April 13, but negotiations between the GJF and the government will continue, a spokesperson for the industry body said in a phone interview with Rapaport News.

The strike was called off following indications the government won’t budge on the new 1-percent excise duty imposed this year, the spokesperson added. The decision comes before the festival of Akshaya Tritiya on May 9, which Indians mark by buying gold.
Tags: All India Gems & Jewellery Trade Federation, financial, GJF, India, Rapaport News, Strike, tax
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