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Branded clothing stores shut-shop on March 7
08 Mar '11
1 min read
Clothing retailers stayed shut across India on March 7, in a response to a shut-down call given by various clothing associations.
Over 10,000 branded clothing retail outlets pulled own their shutters in protest against the 10 percent excise duty proposed on branded apparels in the budget.
Major garment retailers like Pantaloon, Shoppers Stop, Westside, Lilliput, Arvind Brands, Provogue and many more smaller brands participated in the first of its kind store closure call.
The apparel retailers are demanding a roll-back of the proposed excise duty. Experts have put the loss to the retail industry at between Rs 3-4 billion, due to the shut-down.
Clothing with an annual turnover of Rs 15 million and having a registered or labelled garment will be liable to pay the 10 percent mandatory excise duty.
Over 10,000 branded clothing retail outlets pulled own their shutters in protest against the 10 percent excise duty proposed on branded apparels in the budget.
Major garment retailers like Pantaloon, Shoppers Stop, Westside, Lilliput, Arvind Brands, Provogue and many more smaller brands participated in the first of its kind store closure call.
The apparel retailers are demanding a roll-back of the proposed excise duty. Experts have put the loss to the retail industry at between Rs 3-4 billion, due to the shut-down.
Clothing with an annual turnover of Rs 15 million and having a registered or labelled garment will be liable to pay the 10 percent mandatory excise duty.
Fibre2fashion News Desk - India
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