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Indian Finance Minister's Policies ‘Anti-Jewelry Sector’

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Indian Finance Minister's Policies ‘Anti-Jewelry Sector’ - Indian Jewellery
Indian Finance Minister's Policies ‘Anti-Jewelry Sector’
19 th Feb 2014

The Indian Finance Minister exposed the provisional budget in the Parliament and the GJF, India Gems and Jewellery Trade Federation, stated that they were deeply disappointed to find out that the Minister totally overlooked the nation's jewellery market and ignored their proposals. Especially, after the association declared that high gold import duties improved black marketing activities in gold business and led to suicide gold artisans and craftsmen.

According to Haresh Soni, Chairman, GJF, the government has ignored the gems and jewellery sector to save the automotive trade from slowing growth. 

Nevertheless 'gold industry cannot be considered as the only cause responsible for increasing current account deficit' he restated, ‘the budget proposals anti-jewellery sector and anti-people at the same time’.

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