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Jewellery industry incurs Rs 60K-70K cr loss in 18-day stir

A three-member committee has been set up to look into issues of jewellers

Nagpur jewellers join a 3-day bandh on Thursday, March 3, 2016 to protest excise duty hike on jewellery PTI
Nagpur jewellers join a 3-day bandh on Thursday, March 3, 2016 to protest excise duty hike on jewellery PTI

The 18-day long strike by jewellers, which ended on Saturday night , is estimated to have caused loss of Rs 60,000-70,000 crore to the industry. Meanwhile, a three-member committee has been set up to look into issues of jewellers and it would submit a report to the government within two months. The Gems and Jewellery Export Promotion Council (GJEPC) in a release said that the 18-day stir caused “losses of Rs 60,000-70,000 crore” to the industry. The decision to call off the strike was taken on Saturday night after the government assured jewellers that there will be no ...