Closed shutters at jewellers continue to greet buyers in Bengaluru two weeks after they went on an indefinite shutdown against the Central government’s decision to levy one per cent excise duty on gold and diamond ornaments.
Scores of people who want to buy jewellery ahead of the wedding season are returning disappointed from jewellery shops every day.
Joe Anthony, a sales manager at Bhima Jewellers store on Dickenson Road, said they were unable to process hundreds of pre-wedding orders because of the country-wide protest.
“On average, at least 100 customers went back every day in the last two weeks. We suffered revenue loss of about Rs one crore daily. There were many people who ordered new designs for wedding. Some of them had come from far-off places,” he said.
All the seven outlets of Bhima Jewellers in Bengaluru were closed down. The surge in demand forced the jeweller to start business on Monday, but it was only a partial resumption.
A Shah Jahan, a retired government employee from Benson Road, was among the many disappointed customers. “I wanted to buy a gold chain for my granddaughter who is celebrating her birthday on Wednesday. I will postpone the purchase and gift her later,” he said.
Meanwhile, a few jewellers in Bengaluru hope to resume business on Thursday. A representative of Reliance Jewels store on MG Road said they would reopen in two days. Nearly 20 people came to the store but returned after learning about the shutdown, he said.
While Sulthan Diamond and Gold and PC Jewellers among others were closed on Tuesday, Joyalukkas, located on MG Road, was open.
All India Gems and Jewellery Federation chairman Sreedhar G V said the protest would continue if the Central government didn’t withdraw the excise duty.
“We are negotiating with the government. There is a meeting with Union Finance Minister on Wednesday. If our demands are not considered, we will continue the protest,” he said, adding that the jewellery sector suffered a total loss of Rs 18,000 crore in two weeks.
He also expressed unhappiness about making PAN card mandatory for jewellery purchase of Rs two lakh and above.