The Tirupur Exporters’ Association has asked for extension of rupee export credit at 3 per cent interest rate subvention, import of specialty fabric using export performance certificate and increase TUFS subsidy for garmenting machinery. Among other demands, the trade body has asked the finance ministry to consider providing investment allowance, withdrawal of Alternate Minimum Tax (AMT), re-fixing of TDS and enhanced wealth tax limit. A Sakthivel, TEA’s President, said, “Apparel manufacturers, especially hosiery producers comprise mostly of units under the SME non-corporate sector. So, in order to increase exports, deduction should be extended to the non-corporate sector also and the minimum ceiling of investment may be scaled down to Rs. 1 crore.”
