September 14, 2019
Coimbatore : Tiruppur Exporters Association (TEA) Saturday thanked Finance Minister, Nirmala Seetharaman for the announcement of new measures to boost exports and specifically appreciated for considering the continuance of MEIS (Merchandise Export from India Scheme) at 4 per cent till December end.
TEA President Raja M Shanmugham in a release also thanked for for Priority Sector Lending (PSL) norms for export credit under consideration of RBI and releasing an additional Rs.36,000 Crore to Rs. 68,000 Crores as Export Credit under Priority Sector.
He lauded the announcement that the leverage of technology will be used to reduce Time to Export or Turnaround Time which will give cushion to exporting units and will be helpful to meet out the delivery schedule and also reduction of logistics cost.
The measures will give business confidence to the struggling Tiruppur knitwear export sector, he said and expressed hope that the pending amount will be reimbursed expediently.