Tiruppur, Oct 17 (KNN) The Tiruppur Exporters Association (TEA) is urging the government for an announcement of PLI 2.0 by fixing the threshold limit for Rs 15 crore investment considering the knitwear garments’ MSMEs in Tiruppur cluster.

TEA presented memorandums to Union Minister for Textile Piyush Goyal during his visit to Tiruppur on Monday.

Foreign buyers were placing orders only with the units having state-of-the-art machinery. In view of this, the announcement of an alternate scheme in place of TUF scheme would a go long way in the growth of textile sector, the industry body said.

The Association urged the Ministry to increase the benefit of interest equalisation scheme to five per cent for MSMEs and three per cent for non-MSME garment exporters.

It also sought one year moratorium for repayment of the principal amount for credit taken as loan under the Emergency Credit Line Guarantee Scheme during the COVID period and extension of the scheme till March 2024 for the benefit of MSMEs.

(KNN Bureau)