By  on March 23, 2012

JAIPUR, India — India’s jewelry sector has gone on strike over increased import duties, affecting gold traders to retailers and costing the sector an estimated $200 million a day in lost business.

“It is the first time in seven years that we are protesting,” says Rakshit Singh, a jeweler in Jaipur. “And this is justified. The losses that we are expected to incur are colossal.”

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