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Coimbatore, Tirupur MSMEs welcome finance minister’s relief package

Textile industry and micro, small and medium-scale enterprises (MSMEs) in Coimbatore and Tiruppur districts have welcomed the announcements by Union Finance Minister Nirmala Sitharaman. Coimbatore District Small Industries’ Association president R Ramamurthy appreciated the announcements for meeting most of the demands of the associations in Coimbatore, especially related to definition for MSMEs.

President of Coimbatore and Tirupur District Tiny and Micro Enterprises’ Association C Sivakumar welcomed the announcements and said micro units can start operations and depending on need seek further support from the government. The government should look at waiver of loans for micro units, he said.

J James, President of Tamil Nadu Association of Cottage and Tiny Enterprises, added micro sector, which is peculiar to Coimbatore region, needs more focus. There should also be clarity on how the announcements will be implemented.

In the textile sector, CITI chairman T Rajkumar said the move to redefine MSMEs will benefit the sector. The Rs 30,000-crore special liquidity scheme will supplement the measures announced by the RBI Governor to augment liquidity.

On similar lines, AEPC chairman A Sakthivel said the measures will give more money in the hands of people and factories and spur economic growth. Disallowing global tenders will give opportunities to local industries.

Tiruppur Exporters’ Association president Raja M Shanmugham welcomed continuance of Pradhan Mantri Garib Kalyan package and payment of 12 per cent of employer and 12 per cent employee contributions into EPF accounts of eligible establishments for another three months to salary months of June, July and August 2020 also.

 
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