12th October 2021, Mumbai:
In its recent meeting with Textile Minister Piyush Goyal, an industry delegation insisted on a 5 per cent GST rate on garments.
As per an Apparel Resources report, the delegation included Rajesh Masand, President, CMAI and Rahul Mehta, Chief Mentor, CMAI along with Kulin Lalbhai, Arvind Ltd. and Lalit Agarwal, V-Mart.
Recently, The Clothing Manufacturers Association of India (CMAI) had expressed its deep sense of disappointment and anguish. Industry is of the view that it is indeed disturbing that in order to correct an issue faced by a small section of the entire Industry, the GST Council is considering increasing the prices of nearly 85 per cent of the final products to the consumers.
It is important to mention here that there are reports claiming that the garment and fabric price have jumped by 10 per cent in about a week following a steep rise in yarn prices. Besides, the skyrocketing fuel prices have made logistics expensive.
