All India Bandh - Garment Industry
The Readymade Garment and Hosiery Industry in the country will observe an All-India bandh on March 14-15 in a bid to continue their protest against imposition of 10 per cent Excise Duty on readymade garment and hosiery items.
The Industry feels that unjustified levy of Excise Duty will have far reaching deleterious impact on readymade garments and hosiery manufacturers, mostly belonging to small and medium sector, at a time when such units are already over burdened by increase in cost of yarn, fabric and other inputs. The cost of cotton yarn and fabrics, principal raw materials of Hosiery and readymade Garment industries witnessed escalation of 100% to 200% during the previous year. This additional burden will further escalate the price of readymade garments as a consequence of which there will be shrinkage in market of these items. This will eventually lead to closure of many units which means job-loss to thousands of workers and part-time jobbers in the country. The garment industry demands continuation of Optional Scheme for excise levy as at present without making the imposition mandatory.