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Coimbatore, June 1 (PTI) The Tirupur Exporters Association (TEA) on Monday thanked Union Micro, Small and Medium Enterperises (MSME) minister Nitin Gadkari for upward revision of MSME definition. 

While welcoming the change in definition of Micro and Small units, TEA President Raja M Shanmugham specifically appreciated upward revision of Medium Enterprises to Rs 50 crore investment and Rs 250 crore turnover, which will be highly beneficial to Tirupur knitwear garment exporting units. 

The change in definition will not only help in ease of doing business, but also attract more investment in the Tirupur knitwear sector and create more jobs, particularly semi-literate women hailing from rural areas, he said. 

He appealed to the Prime Minister and Finance Minister to advice banks to provide the intended financial measures to MSMEs expeditiously, as with the support of all banks, Tirupur knitwear garmenting exporting units will take efforts to restore the normal business in the coming months.

Published On : 01-06-2020

Source :Outlook India

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