Home / Knowledge / News / Apparel/Garments / Will Mukherjee play Santa for garment retailers?

Will Mukherjee play Santa for garment retailers?

13
Mar '12
Mr Pranab Mukherjee
Indian clothing retailers – big and small and of all hues have been raining discounts on customers, since the last few months.

But it still was not enough to increase footfalls and make the elusive customer walk through the portals of the glitzy store.

The exorbitant hike in cotton prices in the first quarter of 2011 and then the steep fall in the second quarter broke the backs of these retailers.

To add to their woes, the government introduced 10 percent excise duty on branded garments in the 2011-12 budget.

These retailers are now looking up Mr Pranab Mukherjee – Finance Minister on March 16, to bring back the customers in to their stores.

One way, Mr Mukherjee could do so is increasing the disposable incomes in the hands of the consumers, by hiking income tax exemption limits or increasing the tax-slabs.

This would mean more spare money in the hands of the consumer, who would then not mind splurging.

One other way could be withdrawing the 10 percent excise duty. However, that seems unlikely considering the huge budgetary deficits.

Whether Mr Mukherjee will play Santa for garment retailers is anybody's guess.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 21st Feb 2020

France unveils environment score system for apparel

France has launched a system under which apparel may now display a...

Pic: Asia Pacific Rayon

Textiles | On 21st Feb 2020

APR’s new viscose rayon production facility inaugurated

The president of Indonesia, Joko Widodo, has inaugurated Indonesia's...

Pic: II.studio / Shutterstock.com

Fashion | On 21st Feb 2020

Re-commerce gaining momentum in India

The hazards of fashion industry are well-known, and to curb its...

Interviews View All

Amardeep Singh, Orient Craft

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Eric Schoeller,

Eric Schoeller

Groz-Beckert is the world's leading provider of industrial machine...

Eric Fessler,

Eric Fessler

Manufacturer of textile machinery and complete fibre-to-yarn lines, N...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search