Leaders from power loom weaving associations from the city and across the country have threatened to launch demonstrations at their respective industrial areas, if the Central government fails to accept the long pending demands related to GST after the presentation of Union Budget.
The power loom associations will be demonstrating at the industrial areas across the country during the lunch hour by wearing black ribbons.
About 100 delegates and representatives of the powerloom weaving associations from key centres had descended in the diamond city to participate in the Annual General Meeting (AGM) of the Federation of Indian Art Silk Weaving Industry (FIASWI) on Saturday.
A slew of issues and difficulties faced by the powerloom weavers in the country were discussed and the representatives came up with suggestions including increase in the custom duty on imported silk fabrics and man-made fibre fabrics, reduction of GST on velvet fabric from 12 per cent to 5 per cent, refund of accumulated input tax credit (ITC) at fabric stage, non-refund of excess ITC with job workers, opening stock credit and setting up of the anti-profiteering committee etc.
The suggestions and recommendations have been included in the pre-budget memorandum submitted by the FIASWI to finance minister Arun Jaitley for consideration in the upcoming Union Budget.
Chairman of FIASWI, Bharat Gandhi said, “The power loom sector is certainly going to collapse if the Central Government would fail to accept the grievances and suggestions related to GST. The production loss in Surat and Mumbai alone post-GST has gone down by 20 per cent and the overall loss in the country is 10 per cent. This will further led to huge job losses in the future”