Ladha calls for comprehensive strategy for garment industry

Kolkata, Jul 18 (UNI) A comprehensive strategy, involving the garment industry, is needed to overcome the problems and expand domestic and international market share, West Bengal Garment Manufacturers and Dealers Association president C M Ladha said here today.

Inaugurating the 32nd Garment Buyers and Sellers Meet here, Mr Ladha told mediapersons that with the increase in population and their purchasing capacity, the people were buying ready-to-wear items not only before the festive season but also through out the year.

''The indigenous readymade garment industry must consolidate their position to hold on the domestic share. Otherwise, the garment from foreign countries will invade and capture the domestic market,'' he said.

Mr Ladha stated that the small scale manufacturers were required to pay 10 per cent CST for their failure to submit C-form against inter-state sale of readymade garments.

He said a lot of documentation was also necessary in connection with payment of CST and VAT adding majority of the garment manufacturers being SMEs found it extremely difficult to comply with such exhaustive documentation.

On account of recent appreciation of Rupee, Mr Ladha said a large segment of the branded and quality garment manufacturer exporters were finding exports as unremunerative leading to possible release of their products to the local markets.

This was expected to stiffle the small scale garment manufacturers depending entirely on the local markets.

'' It is apparent that the Rupee, which was appreciated by about 10 per cent since December last year has eroded profit realisations by 6.5 per cent and is likely to lead to a loss of 6 lakh jobs in the current fiscal,'' Mr Ladha maintained.

UNI