Tirupur exporters association plea to Finance Minister Nirmala Sitharaman

  • | Thursday | 10th June, 2021

In a letter to the minister TEA President Raja M Shanmugham said MSMEs which were not interested to go for restructuring have also to be supported. (Photo: Tirupur Exporters Association)Coimbatore: The Tirupur Exporters Association (TEA) on Thursday requested Finance Minister Nirmala Sitharaman to announce Additional Credit Assistance up to 10 per cent to all the MSMEs in need of it irrespective of any precondition for restructuring. Also he said the tenor can be fixed as five years comprising repayment of interest only during the first year and interest and principal in five years thereafter. Shanmugham also requested the minister to announce measures like implementation of the exact Remission of Duties and Taxes on export products rates to knitwear garment exports sector as proposed by the G K Pillai Committee. Thanking the Finance Minister for announcing various financial measures for the exporters he said the knitwear sector has got affected due to various adverse factors like increase in inputs and accessories costs and losing their competitiveness against the competing countries in the global market.

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