On behalf of the entire Domestic Garment Industry, CMAI extends its sincere thanks to the Hon. Finance Minister, Sh. P. Chidambaram, for having heard our pleas to Remove the Excise Duty from Branded Readymade Garments.
The Industry, as so correctly described by the Finance Minister, is in the throes of a Crisis, and this Lifeline was desperately needed to bring back some Vigor and Strength to this Beleaguered Sector.
CMAI has worked relentlessly for the last Six Months and more on this Subject, and it is a matter of Great Pride and Satisfaction to see the Efforts Bearing Fruit.
The Revertal to the Optional Route not only provides 0% Duty to the Industry, it will also provide some form of Protection to the Domestic Industry from Cheap Imports.
It will also encourage Foreign Retailers setting up Shop in India to Manufacture their requirements in India, rather than Import from other Countries.
CMAI strongly believes this move will not only Revive Flagging Consumer Demand as a Result of Reduced Prices, it will also Minimize the attraction of indulging in the Grey Market. It will provide a much needed Incentive to the Brands and Manufacturers to grow, to Scale up, and Move to the Organized Sector.
With the Industry going back on a Growth path, one of the Biggest positive fallout will be the Increased opportunities for Employment, especially to the Unskilled and Semiskilled Workers, and more specifically for Women Workers.
CMAI also expresses its Sincere Thanks to the Hon. Textiles Minister, Sh. Anand Sharma, and Senior Officials of the Ministry of Textiles , who have strongly Supported the Industry’s Cause.