Faced with the prospect of joblessness, many migrated from gold and silver jewellery to making imitation jewellery.
Some jewellers are also waiting for Arun Jaitley to announce liberalisation in policy committed to jewellers for 'no raids and no seizure of stocks'
Meanwhile, govt constituted a panel under former Chief Economic Advisor to look into the demands of jewellers
The shares of the company went up by 1%
Government assured them that there will be no harassment by excise officials
TN, Puducherry are home to about 36,000 showrooms, jewellery sector has about 8-10 lakh employees
Here's a jewellery range that cares about your safety
Kejriwal said Modi, when CM of Gujarat, opposed a similar move by UPA in 2012, making jewellers feel cheated now
Jewellers' association digs in, says strike to continue till excise is completely withdrawn
It further expects an improvement in demand for coins and bars with demand to grow at 3-5% in 2016
This year's gems and jewellery (G&J) exports from India are likely to be the lowest in six years because of weak overseas demand following a sharp cut in luxury spending by global consumers.Data compiled by Gems and Jewellery Export Promotion Council (GJEPC), the apex industry body, showed a 14.49 per cent decline between April 2015 and January 2016 to $25.95 billion from the corresponding period last year.On annualised basis, India's G&J exports are unlikely to surpass $31.14 billion in 2015-16, the lowest in five years. During 2014-15, overall G&J exports were at $36.26 billion, slightly higher than the previous year.The sharp fall in G&J exports assumes significance as this segment contributes nearly 13 per cent of total merchandised exports from India, employing around one million workers. Unrecoverable job losses are feared in India's diamond cutting and processing sector which processes 11 out of every 13 rough diamonds mined across the world."The volatility in th
The strike was to protest at the Union Budget announcement of a 1% excise duty levy on articles of gold and diamond studded jewellery
Most will pass on levy to users; effective duty execution to create level field for unorganised players