The top officials of the Tirupur Exporters Association (TEA), a leading trade body of Tirupur-based apparel manufacturers, recently met the union Textile Minister Piyush Goyal and urged to address the Tirupur knitwear sector’s issues.
KM Subramanian, President of the TEA and other exporters insisted to expedite the development of PM MITRA Park as 50 exporting units in Tirupur are interested to setup factories in the park.
TEA also urged for the announcement of Production Linked Incentive (PLI) 2.0 by fixing the threshold limit for Rs. 15 Crore investment and the sales turnover to be fixed at three times of the investment, considering the knitwear garments MSMEs in Tirupur cluster.
Industry representatives insisted the requirement of an alternate scheme in place of TUF scheme and also request for early conclusion of FTA with European Union, EFTA, New Zealand and Gulf Cooperation Council.
Increasing the benefit of Interest Equalization Scheme to 5 per cent for MSMEs and 3 per cent for Non-MSMEs Garment exporters, requisition for one year moratorium for repayment of the principal amount availed under Emergency Credit Line Guarantee Scheme (ECLGS) were also major demands put forward by the TEA.
