Home / Knowledge / News / Apparel/Garments / AEPC thanks Indian govt for revised MSME definition

AEPC thanks Indian govt for revised MSME definition

01
Jun '20
Pic: Shutterstock
Pic: Shutterstock
Thanking the Indian government for excluding turnover from exports in calculating the turnover limit while defining micro, small and medium enterprises (MSMEs), Apparel Export Promotion Council (AEPC) chairman A Sakthivel said the council had requested the government to remove the turnover criterion for defining MSMEs in the exports sector.

In a statement today, Sakthivel thanked the government for accepting the council’s request “to keep the investment criterion of ₹50 crore alone to define the medium scale units irrespective of the unit’s turnover in the export sector”.

He said as exporters’ turnover depends upon foreign exchange rates and the rupee’s value has continuously weakened for the last 10 years, the AEPC had requested the government to remove the turnover criterion.

“Today’s decision will propel India’s exports and strengthen the MSME sector, which is the key to India becoming self-reliant. Further, the decisions to allow MSMEs get listed and the provision of distressed asset fund for MSMEs will give a major stimulus to the sector, job generation and revival of the economy,” Sakthivel added.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: UNFCCC / Alyssa Strohmann / Unsplash

Fashion | On 17th Jun 2021

Over 70% UN Fashion Charter signatories submit disclosures in 2020

For the 2020 reporting cycle, over 70 per cent of signatories to the...

Pic: Shutterstock

Apparel/Garments | On 17th Jun 2021

Prime Content| Bangladesh apparel exports jump 11.1% in July-May FY21

Readymade garment (RMG) exports from Bangladesh increased by 11.1 per ...

Pic: Bierrebi

Textiles | On 17th Jun 2021

India emerging as main hub for manufacturing in Asia: Bierrebi

The size of the machinery market in India is vast and it enjoys...

Interviews View All

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah &amp; Sandeep is a luxury menswear label...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search