Coimbatore : Tirupur Exporters Association (TEA) today thanked Union Micro, Small and Medium Enterprises (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 welcomed the upward revision of Medium Enterprises to Rs. 50 Crore of Investment and Rs. 250 Crore of turnover, which will be highly beneficial to the Tirupur knitwear garment exporting units.

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

He appealed to 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.