New Delhi: Companies in every sector are becoming victims of the recession that is brewing in the country. Right now the auto industry was in churches because of its crisis and retrenchment. The list now includes the country's leading biscuit manufacturer, Parle-G. The company said that the products were not being sold. Due to which large scale retrenchment can take place. The figure for which could be close to 10,000. The company says the sales of the company have come down considerably in lieu of cost, and it is incurring a lot of losses due to GST.
The company sells biscuits worth Rs 10,000 crore every year. "We are asking the government to reduce GST," said Mayank Shah, Katagiri head of Parle products. Biscuits priced at Rs 100 per kg are getting the highest GST. This biscuit is sold in a five-rupee packet. It is also not going to cost the company, leaving no other way out of evacuation. However, if the government does not comply with our demand, we will have to evacuate 8,000-10,000 people working in our factories.
The company produces Parle-G, Monaco and Mary Gold Biscuit. The company had also started production of cookies for the premium segment. Parle-G is the best-selling biscuit in the country. The company has 10 factories all over the country where one lakh people work. In addition, there are 125 third party plants where biscuits are produced. The company's products are sold the most in rural India. It is quite a famous brand.
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