The garment exporters in Tirupur are having a contented feeling as Chief Minister Edappadi K. Palaniswami exclusively took up the major grievances in the cluster with the Commerce Minister Suresh Prabhu.
This was following the recent communication of the exporters here with the State Government highlighting the issues that hindered the growth of the cluster during the just ended 2017-18 fiscal year. The Chief Minister had requested the Union Minister to take up the request for enhanced interest subvention from 3 % to 5 % for the apparel sector. This apart, the exporters’ plea for increasing the duty drawback to remain cost competitive in the global markets was also highlighted.
The exporters in Tirupur cluster were also struggling to get a level playing field in European and American apparel markets due to the preferential trade tariff advantages enjoyed by Bangladesh and few other direct competitor countries.
For this, the Chief Minister had suggested for steps to expedite signing of free trade agreements with European Union, United States of America and United Kingdom.