Telangana: More than 55,000 gold jewelry stores and showrooms remain closed to oppose HUID standard | Hyderabad News
Likewise, gold jewelry merchants in other districts of Telangana, have also closed their businesses and expressed their solidarity, with the commotion one day.
Responding to a call by the National Working Group of the National Gems and Jewelry Council of India and the Mumbai Gold Jewelry Association, traders observed a one-day bandh, against the rule at six-digit Hallmark Unique ID (HUID) imposed by the Bureau of Indian Standards (BIS).
“Over 90 percent of traders in Telangana have closed their gold jewelry business and generated an overwhelming response,” Mannepally Murali Krishna, task force member in Telangana and popular gold jewelry dealer, told TOI.
The gemstone and gold jewelry industry was strongly against the HUID system and called on the central government to make certain changes to the HUID rule and then amend them for the benefit of the entire jewelry industry in gold, ”said task force member Murali Krishna.
The HUID rule is implemented with the exception of 10 percent of gold jewelry dealers, but the remaining 90 percent could not be brought into it due to various challenges in setting up ” Analysis and Punching Centers ”(AHC) and employees, according to a gold jewelry dealer in town.
HUID takes almost 5-10 days to mark products, resulting in a complete bottleneck and the industry stalled, another trader said.
Meanwhile, in Nizamabad, Karimnagar, Adilabad and Warangal, besides the big merchants, the small and medium gold merchants, also shook hands on a one-day bandh call, shut down their business and organized demonstrations.