Apparel industry has urged the Government to reduce GST rate from 12 per cent to 5 per cent on all readymade garments having MRP of Rs. 1,000 and more.
The industry has also demanded to keep uniform GST rate of 5 per cent on all types of cotton yarn, synthetic yarn, fabrics, made ups and garments.
Babubhai S. Ayar, Chairman of the Ashish Domestic Garments Manufacturers Association, Mumbai and immediate Past Vice President of The Clothing Manufacturers Association of India (CMAI) has sent pre-budget memorandum to the Central Government in this regard.
“In order to achieve the textile and clothing industry target of US $ 280 billion by 2025 from present US $ 140 billion, the Government should bring in progressive, export-oriented, labour-oriented as well as production-oriented textile policies,” he said.
He also insisted on supporting small-scale industries and garment trade in Mumbai.
