Garment retailers on strike today
Amidst rising dissent against the budget proposal of levying a 10% excise duty on branded garments, designers from across the country will now be joining retailers in a day-long bandh on Monday.mumbai Updated: Mar 07, 2011 00:57 IST
Amidst rising dissent against the budget proposal of levying a 10% excise duty on branded garments, designers from across the country will now be joining retailers in a day-long bandh on Monday.
The protest, which was restricted to just the branded garment retailers, demanding a rollback of the proposal, has found support even from garment manufacturing units from various parts of the country.
“This is the first time in the history of Indian retail that so many players across various formats have come together to protest in this manner. All designers across India have joined the protest. The day’s loss could be as high as Rs500 crore,” said Viren Shah, president, Federation of Retail Traders Welfare Association.
“The government is encouraging imports and in the process killing the domestic market. The garment industry is not a high-margin sector and it is already reeling under price pressures.”
To protest against the government’s decision, big retailers like Shoppers Stop, Provogue, Pantaloon, Roopam, and others (translating into around 6,00,000 large and small shops) have decided to down their shutters on Monday.
On March 4, garment-manufacturing units across the country had staged a protest and went out of production for a day. The estimated loss due to non-production was around Rs150 crore.