NEW DELHI: Retailers including Pantaloons, Reliance Trends and Aditya Birla Retail will soon finalise their course of action against the 10% excise duty imposed on branded garments by the government. Some will also observe a day's strike on Monday to oppose the same.
The Retailers Association of India (RAI) that has members including top retailers in the country, held a conference call on Friday evening to know the sector's response to the excise duty levy.
"The excise duty has come as a big jolt not only to the companies but also consumers," Rakesh Biyani, CEO, Future group said. A collective decision on the future course of action will be taken after the RAI's meeting, Biyani added.
Meanwhile, the Clothing Manufacturers Association Of India (CMAI) on Friday called for a one day 'Bandh' at about 50,000 garment manufacturing units across the main clusters in India. CMAI representatives will also make presentations to the finance and textile ministries asking for a roll back of the 10% excise duty.
The second largest employer in the country after agriculture with six million workers on its rolls, the clothing industry is already reeling under 100% hike in the cost of cotton yarn. "Once the excise duty is implemented, all items of clothing that carry either a name, logo or symbol, will become more expensive," Rahul Mehta, president, CMAI said.
The Retailers Association of India (RAI) that has members including top retailers in the country, held a conference call on Friday evening to know the sector's response to the excise duty levy.
"The excise duty has come as a big jolt not only to the companies but also consumers," Rakesh Biyani, CEO, Future group said. A collective decision on the future course of action will be taken after the RAI's meeting, Biyani added.
Meanwhile, the Clothing Manufacturers Association Of India (CMAI) on Friday called for a one day 'Bandh' at about 50,000 garment manufacturing units across the main clusters in India. CMAI representatives will also make presentations to the finance and textile ministries asking for a roll back of the 10% excise duty.
The second largest employer in the country after agriculture with six million workers on its rolls, the clothing industry is already reeling under 100% hike in the cost of cotton yarn. "Once the excise duty is implemented, all items of clothing that carry either a name, logo or symbol, will become more expensive," Rahul Mehta, president, CMAI said.
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