President's Message

K. M. Subramanian

 

Meeting with Hon’ble Minister of Finance & Corporate Affairs, Government of India, Smt. Nirmala Sitharaman

On 2nd September, Hon'ble Finance Minister Smt. Nirmala Sitharaman met with representatives from the Tamil Nadu textile export industry in Chennai to discuss the impact of U.S. taxes on the sector.

On behalf of TEA Honorary Chairman, TEA Padmashri Dr. A. Sakthivel and I attended the meeting. Our Honorary Chairman gave a representation to the Hon'ble Finance Minister, outlining the current challenges faced by the Tirupur knitwear hub. He specifically requested relief measures and a Focused Market Incentive scheme and Restoration of the Interest Equalisation scheme to help the industry navigate this difficult period.

During the discussion, I highlighted Tirupur's is environmentally friendly manufacturing sector. I noted that in the last financial year 2024-25 we exported goods worth approximately ₹44,747 crores and ₹30,000 crores in domestic business. I also mentioned that about 30%–35% of the goods are exported to the U.S. market. Recalling the crucial support extended by the Hon'ble Minister during the COVID-19 pandemic, I requested a similar support package to safeguard businesses in Tirupur from the current crisis.

In response, the finance minister stated that the Central Government is continuously monitoring the impact of the U.S. tariff on the industry. She assured the delegation that the government will provide the necessary guidance and support to the industries. She also promised to coordinate with the relevant ministries to ensure these companies can continue operations without hesitation.

The association extends its gratitude to Smt. Vanathi Srinivasan, National President, Women’s Wing, BJP and MLA, and Shri. Nainar Nagendran, Tamil Nadu State President of the BJP, for facilitating this crucial meeting.