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12/07/2017 01:11pm

Rs 3000 crore loss, 15 lakh people affected as strike against GST continues in Surat: Traders

image Rs 3000 crore loss, 15 lakh people affected as strike against GST continues in Surat: Traders

New Delhi, July 12 (KNN) Protests against the tax rate on textile under the Goods and Services Tax (GST) entered its 23rd day in Surat. The industry is facing a massive loss of over Rs 3000 crores and there have been no considerable talks yet between the government and the industry.

Talking to KNN, Sanjay Jagnani, Past President of the Federation of Surat Textile Association (FOSTTA) and a textile trader explained the situation. Even before the implementation of the Goods and Services Tax (GST) the traders had informed the government that bringing textile under the GST isn’t in the best interest of the industry, yet the government didn’t pay heed to the repeated demands. Following which the traders and every stakeholder of the textile industry is on strike.

Jagnani further said that as of now the industry is facing a loss of more than Rs 3000 crores. This loss should not be seen as a loss to the industry alone. The textile sector in the state thrives on the thousands of Micro, Small and Medium Enterprises (MSMEs) that have labours at every stage of production. A loss of 3000 crores means that a huge section of population is badly affected.

Responding to the agitation of the traders, Union Minister Mansukh Mandaviya met the traders earlier, but the talks haven’t been very successful. The Minister stressed that the roll back is not possible, though they should collaboratively work for a middle path.

Sanjay added that the strike is less likely to be called off till the government succumbs to the demands of the industry.

Also earlier there have been reports of textile producing units, power looms and retail shops in Erode region of Tamil Nadu going on strike against the GST. The traders in the district claimed that the industry operations have come to a halt leading to a loss of more than 150 crores to the industry in the region. (KNN/ DA)

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