CMAI fears that such high duties will lead to massive factory closures, job-losses, and a catastrophic turmoil in our Apparel Industry.
CMAI believes the imposition of an additional 25 per cent duty on Indian goods will strike a death-blow to the Apparel Industry of India. “No Buyer would want to pay a price differential of 30-35 per cent compared to buying from competing countries like Bangladesh, Vietnam, etc.â€
Santosh Katariya, President, CMAI, whilst denouncing this level of duty as “unjustified, unfair, and arbitraryâ€.
CMAI fears that such high duties will lead to massive factory closures, job-losses, and a catastrophic turmoil in our Apparel Industry.
Ankur Gadia, Vice President, urged the Government to take a strong stand on the issue so as to negotiate a more reasonable and equitable terms of trade.
Rahul Mehta, Chief Mentor, stated â€Whilst continuing to hope that this is part of the negotiating tactics, I would urge the Government and the Industry to work together to urgently evolve strategies to minimise the adverse effect of this draconian levyâ€.
CMAI believes the coming months to be tough and challenging for the Industry.