Jewellers to shut shops in twin cities

Apr 02, 2012 |

Hyderabad

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Over 2,500 jewellers and 50,000 artisans, including pearl jewellers, across the twin cities have decided to close their establishments indefinitely till the Central government rolls back the Central excise duty announced in the Union Budget.

In a unanimous decision, all the associations in the twin cities agreed on Sunday to keep their establishments shut till their demand was met.

Jewellery shops in the twin cities, including small gold jewellers in the by-lanes of Charminar, have kept their shutters down over the past fortnight in support of the nation-wide bandh call ed by the Gems and Jewellers Trade Federation in protest at the proposed hike in excise and customs duty on gold.

Mr Mohanlal Gupta, of the Twin City Jewellers Association, said the hike in customs duty would have a major impact on gold trade.

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