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Tirupur Exporters Association Welcomes Change in Definition of Medium Units

Image courtesy: Tirupurexporterscompany.com


Port Wings News Network:

Shri Raja M Shanmugam, president, TEA, on 1 June thanked the Prime Minister Narendra Modi, Shri. Nitin Gadkari, Union Minister of Micro, Small and Medium Enterprises (MSME) for considering the representations including from TEA for upward revision of MSME definition today and while welcoming the change in definition of Micro and Small units, he specifically welcomed the upward revision of Medium Enterprises to Rs. 50 Crore of Investment and Rs. 250 Crore of turnover will be highly beneficial to the Tirupur knitwear garment exporting units.

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

Shri Raja M Shanmugam appealed to the Prime Minister and Finance Minister to advice banks to provide the intended financial measures to MSMEs expeditiously and he noted that with the support of all banks, Tirupur knitwear garmenting exporting units will take efforts to restore the normal business in the coming months.

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