Jamshedpur: Over 300 jewellers and bullion traders on Tuesday resorted to a day-long fast in protest against the union government’s budgetary proposals of doubling import duty on gold and imposition of excise duty on unbranded jewellery.
Supported by various trade associations including
Singhbhum Chamber of Commerce and Industry (SCCI), the fasting
jewelers and traders described the proposals as a "tough blow"
to the gem and jewellery Sector.
The ulterior motive was to promote branded jewellery,