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2,000 textile units stop production

Staff Reporter

Tirupur: Around 2,000 textile units in Tirupur cluster stopped production on Monday in response to a two-day nation-wide strike call made by the Federation of Hosiery Manufacturers Association (FOHMA).

Loss

The strike is against imposition of mandatory excise duty at the rate of 10 per cent on textile products announced in the Union Budget. The units are engaged in the production of ready-made garments and made-up articles of textiles and affiliated to as many as 14 textile associations in the cluster.

The loss owing to the strike has been pegged at Rs. 40 crore a day. According to the budgetary announcement, all branded ready-made garments and made-up articles meant for supply within the country and falling under Chapters 61,62 and 63 of Central Excise tariff would attract excise duty of 10 per cent regardless of its composition.

“The move is a deterrent for the domestic apparel industry considering the severe functional problems encountered in the sector for the last one year owing to abnormal rise in the prices of cotton and yarn,” FOHMA national vice-president A. C. Eswaran told reporters here.

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