Retail in Asia

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No immediate price cuts on branded garments, says Indian retailers

The Indian government’s move to provide partial relief in excise duty on branded garments’ in the Budget will help improve profitability, retailers and manufacturers on Monday said but ruled out immediate price cuts.

"The latest change in the Budget is a small one though, but it will provide a certain amount relief in terms of stability of product prices," ITC Lifestyle Retailing Chief Executive Atul Chand told PTI.

There might also be some price reduction over a period of time but not immediately, he added.