STOCK MARKET BSE NSE

Agitating Jewellers Get Union Support

Garments sector is in a precarious situation because of ‘heavy online sales’ which is commanding 50% of the market.

Published: 07th April 2016 04:32 AM  |   Last Updated: 07th April 2016 04:55 AM   |  A+A-

HYDERABAD: For the first time in the history of Telangana, 29 trade associations here on Wednesday have gathered at a common platform and decided to extend their support to agitating gold jewellery and ready-made garment industrialists.

Addressing the media, Ammanabolu Prakash, president of TSFCCT said: “Pre-budget survey indicated that gold is a luxury item and 80 pc of the gold is in the hands of 20 pc rich people.

This is untrue, gold is not a luxury item since it is used by the poorest of poor in marriages in the form of Mangalasutra. Similarly, garments sector is in a precarious situation because of ‘heavy online sales’ which is commanding 50 per cent of the market. Levying excise duty on these products will ultimately result in taxing the common man.”

More from Hyderabad

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp