Garment sector says hit hard by dual GST

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“In my whole career of 28 to 30 years, I have never seen such a low time in business and this is mainly due to the economic slowdown. Business volume at all-time low and we are into negative growth of business in all these years,” rues Pawan Bansal, President Garment Manufacturer and Wholesalers Association (GMWA), Hyderabad. He was speaking at the three-day business to business garment fair in the city, being organized by Garment Manufacturer and Wholesalers Association (GMWA) for garment manufacturers, dealers and retailers held here from July 28 to 30. Bansal explained that the main reasons for the economic slowdown in the garment businesses were demonetisation and GST.

“Before demonetisation, people had money which they could spend or save, but after demonetisation, they have been unable to do so as they are just spending whatever they get. We request the government to combine the two different rates of GST, then only it will somewhere benefit the manufacturers and wholesalers.” With all the intermediaries in the garment industry participating in this event, it was great opportunity for all the manufacturers and wholesalers to interact with and make new contacts, As per GMWA, the 21st garment fair would witness much wider participants in terms of visitors and exhibitors who were not only from Telangana and AP but also from Mumbai, Indore, Ahmedabad, Bangalore, Tripur, Kolkata, and Ludhiana. One would get to come across a variety of product lines covering ranges in cotton and blends, woven and knits, treatments, and finishes, prints and patterns, lines and stripes, embroideries and appliqués. Visitors can expect premium mens wear, ladies wear and kids wear as well as hosiery with finishes that stand apart, they added.

Read More at:https://www.thehansindia.com/news/cities/hyderabad/garment-sector-says-hit-hard-by-dual-gst-550311