Retail in Asia

In Shops

India’s apparel retailers ask government to reduce excise duty

India’s retail manufacturers and traders of ready-made garments have asked the government to cut excise duty from the existing 10 percent to 1 percent.

The ready-made garment industry is going through a rough patch, as weak demand has resulted in a 17 percent drop in sales over the past nine months.

The poor scenario can be gauged from the fact that the industry, despite advancing and prolonging discount offers to offload existing stocks, continues with INR1,400 crore (INR14 billion, USD284.55 million) worth of inventory till date.