Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Tirupur Exporters Association urge SBI to help MSMEs tide out liquidity crisis.


Date: 13-05-2022
Subject: Tirupur Exporters Association urge SBI to help MSMEs tide out liquidity crisis
COIMBATORE: The Tirupur Exporters Association (TEA) on Wednesday requested public sector State Bank India (SBI) to help MSMEs tide over the liquidity crisis, as the knitwear sector is passing through a difficult situation due to an unprecedented surge in cotton prices that have more than doubled.

The subsequent hike in yarn prices have also doubled compared to last year, which ultimately resulted in the Tirupur knitwear garment sector and stakeholder working units going into confusion and seeking support from the government as well as the banks to pull them out of the crisis, TEA President Raja M Shanmugham said in a letter to SBI Chairman Dinesh Kumar Khara.

Thanking the bank for continuously providing support to the Tirupur knitwear sector, comprising 95 per cent of MSMEs, Shanmugham said 18 months back, the unit could buy one kg of yarn for Rs 200 whereas now the same amount fetches only 400 grams of yarn.

This revealed how the knitwear exporting MSMEs are now undergoing financial stress in the operational front and the major concern is that liquidity has been drained off from its sanctioned limits, he said.

Despite all of this, it is possible for MSMEs to execute only 40 per cent of its own capacity, Shanmugham said.

We would like to drive home the point that price escalation cannot be easily equated with price realisation as it takes time and ultimately all MSMEs are facing stress, he pointed out.

The issue was highlighted to Union Finance Minister Nirmala Sitharaman, who was in Coimbatore two days ago and the exporters' body made a detailed representation, he said.

"Tirupur knitwear exports clocked Rs 33,525 crore in 2021-2022 and in terms of dollars, recorded USD 4.51 billion, 1.07 per cent of All India Merchandise Exports. Despite passing through a host of adverse issues, with our in-built resilient nature, we have been confidently moving ahead in the challenging global and domestic business environment," he said.

Source Name:-Economic Times

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 06-06-2025
Notification No. 13/2025-Customs (ADD)
Seeks to impose Anti Dumping Duty on imports of ‘Insoluble Sulphur’ originating in or exported from China PR and Japan.

Date: 30-05-2025
Notification No. 31/2025-Customs
Seeks to i. extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.03.2026; ii. to reduce the basic custom duty on crude soya bean oil (HS Code 15071000), crude sunflower oil (HS Code 15121110), and crude palm oil (HS Code 15111000) from 20% to 10%

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 26-05-2025
NOTIFICATION No. 37/2025-Customs (N.T.)
Notification of ICD Jalna, Maharashtra u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962

Date: 23-05-2025
Notification No. 30/2025-Customs
Seeks to amend notification No. 55/2022-Customs dated 31.10.2022 to remove the condition required for availing exemption on Bangalore Rose Onion.

Date: 23-05-2025
NOTIFICATION No. 36/2025 - Customs (N.T.)
Amendment in the Notification No. 63-1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Raxaul

Date: 15-05-2025
Notification No. 34/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 09-05-2025
Notification No. 29/2025-Customs
Seeks to exempt works of art and antiques from Basic Customs Duty

Date: 30-04-2025
Notification No. 02/2025-Customs (CVD)
Seeks to amend Notification No. 05/2024-Customs (CVD) dated the 11th September, 2024 so as to align with changes made vide Finance Act, 2025

Date: 30-04-2025
Notification No. 26/2025-Customs
Seeks to rescind Notification No. 04/2025-Customs dated the 1st February, 2025



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001