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Requisition to increase investment in plant & machinery to medium enterprise

29
Jun '09
May Tirupur Exporters' Association be permitted to note that the definition for Medium Enterprise units, as announced by the Ministry of Micro, Small and Medium Enterprises is “the investment in Plant and Machinery should be more than Rs. 5 crore but does not exceed Rs. 10 crore.” Due to this upper limit of Rs. 10 crores, Medium Enterprises units, are deprived of getting the benefit of MSME Sectors.

We wish to make a note of it that the cost of the machinery like, Fabric Spreader and Cutter, latest knitting machine are more than Rs. One crore and due to higher value of machinery, the investment even in small knitwear garment units are exceeding more than Rs 10 crores. In view of this, the small knitwear garment units are facing problem with banks in getting the one of the supporting measures of 2% interest subvention on Packing Credit, specifically given to bail out the employment intensive exporting sectors.

Considering this, we request the Hon'ble Finance Minister to advise the Ministry of Micro, Small and Medium Enterprises to make amendment in the definition of medium enterprises by increasing the upper limit to Rs. 25 crores expeditiously so that the ailing small garment-exporting units will get the benefit at this need of the hour.

Tirupur Exporters' Association


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