More reports on: Textiles
Apparel industry shuts shop to protest excise duty levy news
08 March 2011

The Rs7,000 crore Indian branded apparel industry, is up in arms against the newly-imposed additional 10 per cent duty announced in the budget on branded apparels.

Following protests by clothes manufacturers across the country who shut shop on 4 March to protest the government's 10-per cent excise duty levy, it is now the turn of retailers to make their displeasure felt.

Apparel manufacturers are already reeling under the burden of increasing costs of cotton yarn and synthetic fibre. They say if the proposed levy of 10 per cent comes into effect, it would likely increase the burden on the end consumers.

Though the sector has made several representations to the finance minister it remained to be seen what action would be taken.

Karnataka, the hub for major garment manufacturers, has over 5,000 retailers. The protests were joined in by a number of major retailers including Arvind Ltd, Madura Garments, Reliance Trends and Reid & Taylor.

Bangalore-headquartered Arvind, has about 400 brands and retail stores across India, and 70 stores in Karnataka which remained shut, while Madura Garments' 50 stores in Karnataka were closed.





 search domain-b
  go
Legal Policy | Copyright © 1999-2011 The Information Company Private Limited. All rights reserved.  
Apparel industry shuts shop to protest excise duty levy