By  on May 11, 2012

NEW DELHI — Could a 1 percent excise duty make so much difference?

Indian jewelry manufacturers and retailers gave up business worth more than 200 billion rupees, or $3.72 billion at current exchange, in a 21-day protest against the government’s ruling in March that levied a 1 percent excise tax on branded and unbranded jewelry as a part of the budget for 2012-13.

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