Garments retailers on strike on Monday
As a mark to protest against the 10% excise
March 05, 2011 | comments ( 0 ) |
As a mark to protest against the 10% excise duty levied on branded ready-made garments, it is reported that nearly 10,000 retail stores across India, including those of big brands like Pantaloons, Shoppers Stop, Westside, Lifestyle, Madura Garments and Arvind Brands, would remain close on Monday.
Out of a total of estimated Rs 1,00,000 crore apparel business in India annually, Rs 60,000 crore comes from the branded apparels market.
Around 50, 000 garment retailers would be impacted due to the government decision.
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