The jewellers of India went on a strike for 5 days beginning March 17, 2012, after the budget was tabled in the parliament. The strike was held as a protest against the Central government's decision of hiking excise duty on gold in the recently introduced Union Budget and the jewellers’ are demanding a roll back of the excise duty.

The strike was called on by the GJF and was supported by all the local and regional jewellers associations of the various markets. The entire jewellery fraternity came together and stood united in their cause. For five days all retail showrooms and jewellery establishments remained shut and people held rallies and demonstrations to mark their protest.