Jewellers in twin cities to shut shopsTop Stories

April 02, 2012 23:13
Jewellers in twin cities to shut shops

Around 2,500 jewellers and 50,000 craftspersons, which including the pearl jewellers throughout the twin cities have concluded to shut their shops continually unless the Central government takes back the Central excise duty which was declared in the Union Budget.

In an undisputed decision, On Sunday April 1 all the associations in the twin cities decided to keep their shops close until their demand was met.

Jewellery shops in the twin cities, including small gold jewellers in the by-lanes of Charminar, have kept their shutters down over the past fortnight in support of the nation-wide bandh call ed by the Gems and Jewellers Trade Federation in protest at the proposed hike in excise and customs duty on gold.

Mr Mohanlal Gupta Twin City Jewellers Association mentioned that the increase in customs duty might have a major effect on gold business.

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