IT raids and surveys in Pink City's five jewellery houses

Today Wednesday morning, as per sources, traditional jewellery houses in Jaipur, now diversified into real estate and hotels, faced IT survey and raids. These organisations are old gemstone dealers and jewellery manufacturers and retailers of Jaipur, mainly dealing in precious gemstones and jadaau jewellery.

Raids just before Diwali, is a bold step and leads to a very uncomfortable feeling for jewellers, who are already affected by low festive demand and global payment defaults.