The president of Tirupur Exports Association, Mr. A. Sakthivel has said that the industry has reposed full faith on the government at the centre under the dealership of Mr. Narendra Modi and is expecting positive signs in the coming years. Prime minister also stressed the importance of manufacturing ‘made in India’ and “we expect that lot of supporting measures from the centre for making improvement in manufacturing of garments”.

TEA Reposes Full Faith on the Govt. at the Centre to Build ‘Brand India’

The prime minister has said to build ‘Brand India’ and would focus on 5Ts – talent, tradition, tourism, trade and technology. Our industry is also wished to follow the same focus and build ‘Brand Tirupur” and subsequently, contribute to build ‘Brand India’.

Addressing the 24th annual general meeting in conversation with the association’s silver jubilee celebration Mr. Sakthivel said the government has considered the association’s requisitions and allocation of fund to TUFS was increased from Rs.1,956.16 cr. to Rs. 2,300 cr., an increase of Rs. 343.84 cr.

About Labour laws amendment, Mr. Sakthivel said, Lok Sabha on August 14 passed the Apprentices (amendment) bill, 2014, that seeks to increase the ability of skilled manpower in the country, provide industry flexibility to hire apprentices and improved the monitory compensation giving to them. Mr. Sakthivel said draft registration mill become a law once it is cities passed by the Rajya Sabha and receives assent from the President. Mr. Sakthivel expected that the bill will be passed and the industry will meet the labour requirements.

He said “we are expecting the announcement on continuation of 3% interest subvention on Rupee export credit with retrospective effect from April 2014 in the last union budget necessitating to renew our requests to the finance minister for the same. It is expected that a positive announcement will be made at the new foreign trade policy to be unveiled probably at the end of September.”

About the new foreign trade policy, TEA president said there has been news round the corner that the commerce ministry is planning to restrict incentives given through Export Promotion Scheme and the economic survey for 2014-2015 had also stressed on the need to bring down the growing number of export promotion schemes. However, he said as garment sector has more growth potential in exports and is also providing more employment next to agriculture, the union minister of commerce, Mrs. Nirmala Sitharaman in the new foreign trade policy will continue to provide incentives to readymade garment sector “which is dire need of it to enhance the competitiveness and sustain in the global market”.