India’s Clothing Retailers Shut Stores to Oppose New Tax
Pantaloon Retail India Ltd., Shopper’s Stop Ltd. and other Indian clothing retailers shut their stores today to protest the government’s decision to levy a 10 percent tax on branded apparel, an industry group said.
More than 10,000 shops in the country remained closed, Kumar Rajagopalan, chief executive officer of the Retailer’s Association of India, said in a telephone interview. Apparel makers have sought a meeting with government officials to discuss the tax, said Rahul Mehta, president of Clothing Manufacturers’ Association of India. The shops will reopen tomorrow.