 "A woman checking gold bangles")
The strike by a part of the jewellery trade against the new central excise duty completed 27 days on Monday. “Hundreds of police converted Zaveri Bazaar (the trade hub) into camps on Monday, following information over a planned mass protest here. We will meet tomorrow to adopt a strategy,” said Kumar Jain, Director, Umedmal Tilokchand Zaveri.
The Centre has set up a committee with representatives from the finance ministry, excise officials and trade representatives to review the implications. It was to give a report in in 60 days and till, the excise department was not to conduct raids on jewellers.
“This was not acceptable to jewellers. The government does not understand the resentment. The strike will continue till excise duty is rolled back,” said Ashok Minawala, Director, All India Gems and Jewellery Trade Federation.
According to trade sources, organised retailers are not in the strike. Also, India Bullion and Jewellers Association ended their participation in the stir on March 19, after the government assured no raids till the panel report.
