India Knitwear Prices Rose 60%

On Tuesday, federal finance minister Mukherjee announced that the consumption tax had only been cut by 1.5%.

At the same time, the cost of garments and garments has been spiralling in the retail market, and the price of knitting products has increased by 60%.

Many workers, sweatshop owners and industrialists are protesting the 10% federal excise tax on brand clothing announced this year.

However, the Ministry of Finance refused to withdraw the consumption tax. The government ignored the massive protests launched by industry leaders since March 1st, reducing the consumption tax by only 1.5%.

"Reducing the consumption tax by 1.5% will not solve our problem.

We will increase our spending for extra word work and employ a consultant on consumption tax.

The high excise tax will only urge garment manufacturers to delete the "made in India" label to produce non brand clothing to evade taxation, "said Viren Shah, President of the federal retail Welfare Federation (FRTWA).

On Tuesday, a quick check of the mainstream shopping market in Mumbai showed that retail prices rose in the past two months.

In January, the price of cotton Sari was 150 rupees, now the selling price is 200 rupees, or about 30%.

In addition, the quality is poor because manufacturers are forced to use cheap materials to make up for the losses.

Insiders expect that prices will rise further because the wedding season is approaching in April.

"Manufacturers bear part of the burden because sales prices are low in March.

In April, the sales price may increase by 20%.

Because

Cost increase.

Retail prices have risen steadily in the past year.

The consumption tax will be the last straw on the camel's back.

Many garment manufacturers are dissatisfied with the reduction of the consumption tax by only 1.5%.