TEA appeals for extension of interest equalisation scheme for another two years

Coimbatore: Tirupur Exporters' Association (TEA) on Wednesday appealed to Union Finance Minister Nirmala Sitharaman to announce extension of Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit for another two years to make knitwear garment exporting units, particularly MSMEs, to enhance their competitiveness in the Global Market and sustain in the business.

In a representation to the union minister, TEA president Raja M Shanmugham said the units have been making efforts to come out of the impact caused due to the first and second wave of COVID pandemic and need this financial support to come out of the crisis.

Copies of the representation were sent to Union Minister for Textiles Piyush Goyal.