Coimbatore : Tirupur Exporters Association today thanked Prime Minister Narendra Modi for launching historic support and outreach initiative for MSME sector.

It had come at a time when knitwear exporting units, particularly MSMEs, were struggling to be competitive and sustain in the global market.

As a result of this announcement, not only MSME spirit and confidence level, including competitiveness, would get escalated. But they could also concentrate and take efforts fully to increase their business, TEA president Raja M Shanmugha said in a statement..

He also thanked Modi for increasing of interest subvention from 3 to 5 per cent.

TEA also welcomed the stoppage of visit by inspectors to put an end to inspector raj system as MSMEs could do business hassle-free, he said. Shanmugham expressed confidence that these positive measures would help Tirupur exports to bounce back and witness a positive growth.