Wednesday, November 15, 2006

Watchmakers dont want us to buy watches

BS reports
The domestic watch industry has demanded sops from the government to help it improve its competitiveness and achieve its objective of every Indian having at least one watch.

Among the demands of the industry are increase in abatement rate on watches from 35 per cent to 50 per cent, rationalisation of duty structures and curbing of illegal imports.
Fairer taxes are fine, but I cant understand how buying watches can be illegal! I mean, why should there be any restriction on importing watches in first place?

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