-SATISH HANDA
Few years ago, there was craze for readymade garments not only in India but garments produced in the country were in much demand in other countries also, but situation have now changed. About a decade ago, large number of indigenous companies manufacturing garments started opening their own exclusive franchisee showrooms in every prominent city in the country but soon the craze for these ready made garments was over when such exclusive garments stores started closing down their shutter due to poor demand and heavy overheaed expenses.
Gurugram is known as hub for producing garments in Haryana state at present but entrepreneurs in garment sector started witnessing recession in past two-three years due to poor demand in indigenous markets as well as severe slump in export markets due to tough competition from garments produced in Bangladesh, Srilanka and Vietnam started flooding our domestic markets with garments produced in their countries as well as in European countries due to lesser prices offered by them in the absence of export duty on garments.
While talking to Animesh Saxena, President Udyog Vihar Industries Association said that Gurugram garment Industry has high hopes for survival of this collapsing industry in the state due to availability of relief in rebates, refunds in state and central taxes, levies and merchandize export scheme expected in 2020 budget. According to Anil Jain, Vice President Textile Manufacturing Association, garment manufacturers in the country are facing tough challenge from garment manufacturers from neighbouring countries Bangladesh, Srilanka and Vietnam due to their lesser production cost as compared to garments produced in our country as such the survival of Indian garment manufacturers is possible only if our government waives off import duty on garments imported in our country as well as reduce GST to 5% slab to enable domestic garment manufacturers to reduce their production cost and compete foreign manufacturers. Jain demanded, government should impose import duty on garments imported from Bangladesh adversely affecting the sale of garment manufactured in India.
