India's Gold Jewellers On Strike
Gold jewellers in India have started a strike against a proposed 2% tax on branded gold jewellery.
Minister of Finance Palaniappan Chidambaram made the proposal on Monday in the federal budget.
Small jewellers fear that the excise office will tax small, local brands - not just the large brands targeted by the tax.
Small gold jewellers account 90% of India's $11bn gold jewelry and diamond market.
Minister of Finance Palaniappan Chidambaram made the proposal on Monday in the federal budget.
Small jewellers fear that the excise office will tax small, local brands - not just the large brands targeted by the tax.
Small gold jewellers account 90% of India's $11bn gold jewelry and diamond market.
posted by goldprice at 8:05 PM
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