Most jewellers across India re-opened their jewellery stores on Wednesday after a 42-day long strike against the government’s decision to introduce a 1% excise duty on jewellery. The move came after various trade bodies said that the government was firm that it would not withdraw the levy, but had assured them that there will be no excise-related visits to the stores to inspect records of their businesses and that it would not tolerate any harrassment of jewellers in the name of inspection.

It is understood that representatives of the jewellers received these assurances from senior representatives of the government. Officials of bodies such as All India Gems & Jewellery Trade Federation (GJF) and the Indian Bullion & Jewellery Association (IBJA) also confirmed to the media that the jewellers have resumed business activity.

The 42-day suspension of business is said to have caused losses amounting to thousands of crores of rupees.