Taxed to death: Diamond industry not in ‘pink’ of health

JAIPUR: Pink City Jaipur has started bedecking itself for Diwali but the gem and jewellery industry, which sparkled at this time, is struggling. This is also the wedding season but a serious recession on the back of a hike in taxes via GST and spike in import duty on gold has made for 25% dip in business and lay-off of 20% of total workforce. Justin Verky, owner of Jewel Ace, who deals in tra…