MUMBAI, Thu Mar 10, 2011 - (Reuters) - India's top-listed retailer Pantaloon Retail (PART.BO), part of Future Group, has hiked prices of its branded apparel by 18 percent from this month, its managing director said.

"We have hiked the prices on the new stock that has come in in the stores that will be available from March. The 10 percent excise hike announced will be additional, that will affect volume growth and demand," Kishore Biyani, who is also the group chief executive, told reporters.

Indian federal budget for fiscal 2011/12 proposed a mandatory levy of 10 percent on branded apparel.

(Reporting by Nandita Bose and Neha Singh; Editing by Aradhana Aravindan)