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Jewelers in India Losing $150 Million a Day as Strike Continues

  • Shops shut since March 2 to protest excise tax in budget
  • Trade groups seek an increase in import tax in lieu of duty

Jewelers in India, the world’s biggest gold consumer after China, are estimated to be losing about $150 million a day as a shutdown to protest a proposed tax enters its second week, according to the All India Gems & Jewellery Trade Federation.

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