Two-day shutdown called in garment, hosiery industry
March 12th, 2011 - 11:24 pm ICT by IANSKolkata, March 12 (IANS) The readymade garment and hosiery industry Saturday has called for a two-day shutdown in the industry across the country from March 14 to protest imposition of 10 percent excise duty on their products.
The Confederation of West Bengal Hosiery and Garment Manufacturers Association will organise a hunger strike from March 14 to 15 at Metro Channel in Kolkata.
“The confederation reiterates 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,” it said in a release here Saturday.
“The cost of cotton yarn and fabrics, principal raw materials of hosiery and readymade garment industries, witnessed escalation of 100 percent to 200 percent 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,” it said adding this will eventually lead to closure of many units which means job losses to thousands of workers.
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Tags: confederation, cotton yarn, deleterious impact, escalation, excise duty, fabrics, garment industries, garment manufacturers association, hosiery manufacturers, hunger strike, imposition, job losses, levy, metro channel, previous year, raw materials, readymade garment, readymade garments, shrinkage, west bengal