Over 600 jewellery retailers in the city will down shutters for 72 hours from Wednesday morning, protesting against the levy of one per cent excise duty on jewellery announced in the Union Budget on Monday.
This strike is called by the All India Gem and Jewellery Federation seeking roll back of the levy, said B. Sabarinath, secretary of Coimbatore Jewellers’ Association.
According to B. Muthuvenkatraman, president of the Coimbatore Jewellery Manufacturers’ Association, manufacturers, bullion dealers and goldsmiths will also take part in the three-day strike. The industry also proposes a meeting with all MPs and hope the Government will reverse the decision by then.
This strike is called by the All India Gem and Jewellery Federation seeking roll back of the levy, said B. Sabarinath, secretary of Coimbatore Jewellers’ Association.
According to B. Muthuvenkatraman, president of the Coimbatore Jewellery Manufacturers’ Association, manufacturers, bullion dealers and goldsmiths will also take part in the three-day strike. The industry also proposes a meeting with all MPs and hope the Government will reverse the decision by then.