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Strike to stand against PAN card limit change
Entire jewellery industry was united except IBJA
By: Diamond World News Service
Feb 11 2016 7:00PM
Reference: 12673  


The Indian gems and jewellery industry is facing tough time right now, consumers are shying away from buying jewellery, government policies are not supportive for the growth and easy working of retailers and manufacturers; amidst this, it is sad to see disunity among the associations of jewellery industry.

Almost, entire jewellery industry was united to support and stand against PAN card limit change to Rs. 2 lakh, there was support from all local jewellery association from cities like Jaipur, Chennai, New Delhi, Mumbai, Bangalore, etc. The strike was coordinated by All India Gem and Jewellery Trade Federation (GJF) across India with the help of all local associations. But to play spoil sport for many, one bullion association from Mumbai (IBJA) did not support the strike, resulting in Zaveri Bazaar being open. They say, "Some associations are working against the policies of government and we request entire Gem and Jewellery sector to think twice before observing such strike. IBJA is working to increase the limit and has already submitted a proposal made by KPMG to the Ministry of Finance to increase PAN card limit. "

Few industry people spoke to DW that this is a political move by the president of the association to not to protest as he himself is President of ruling party. Protesting against his own government won't be helpful to him, so he has kept jewellers interest aside. One needs to think and act. All actions are required to make sure that the PAN card limit is increased, lot of presentations and talks have happened with the Government in last one month and have not received any positive response. Therefore, it was important to call for strike and industry to stay united.

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