Tirupur Exporters Association on Saturday thanked Finance Minister Nirmala Seetharaman for announcing new measures to boost exports and for considering the continuance of MEIS (Merchandise Export from India Scheme) at four per cent till December end.

TEA President Raja M Shanmugham in a release also thanked her for annoucing revised priority sector lending norms for exporters, which will release an additional funding of Rs 36,000 crore to Rs 68,000 crore to them.

He welcomed the announcement that leverage of technology would be used to reduce Time to Export or Turnaround Time, which would give a cushion to export units and help meet delivery schedules and also reduce logistics costs.

The measures would give confidence to the struggling Tirupur knitwear export sector, he said and hoped that the pending amount would be reimbursed expediently.

Published On : 16-09-2019

Source : Financial Express