Thousands of garment manufacturers on Tuesday closed factories across India for the second day as part of their two-day strike demanding rollback of 10 percent excise duty imposed on branded apparels in the Budget 2011-12.
The strike call has been given by Clothing Manufacturers Association Of India (CMAI), an industry body that claims to represent over 20,000 companies in India, including ready made garment manufacturers, exporters and retailers.
CMAI said, the two-day strike would result in a loss of Rs. 600 crore.
Protesters shouted slogans like "Don't gag Indian garments industry" and held up placards which read "Roll back excise on branded garments"."
Demanding immediate rollback of excise duty, the garment manufacturers said the imposition of excise duty would overburden the industry, which was already facing several problems owing to rise in the price of raw materials.
"The decision to impose 10 percent tax on the branded garments is not only against us but it is also against the common man who won't be able to afford clothes after the hike in their prices," Federation of Readymade Garments Hosiery Trade of India (FRGHTI) president Ramesh Ahuja told media.
Business Opportunities
Our Group Sites
Popular Cities
