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Related Keywords: based on annual turnover, classified under micro, made on plant and machinery, MSMEs, not investments, Small and Medium enterprises, Textile manufacturing units, Tirupur knitwear cluster

Textile manufacturing units in Tirupur knitwear cluster to get classified under micro, small and medium enterprises (MSMEs) based on the annual turnover, and not on the investments made on plant and machinery.

As per the new classification, the units with annual turnover less than Rs. 5 crore would be termed ‘micro enterprise’, the units with annual turnover of more than Rs. 5 crore and less than Rs. 75 crore would be put under ‘small enterprise’ category, and the units with turnover between Rs. 75 crore and Rs. 250 crore would be classified as ‘medium enterprise’.

Related Keywords: best technical experts, four certificate course, hold one diploma course, NIFT TEA Knitwear Institute, production management, production technology and management, promoted by Tirupur garment exporters, signed draft MoU, Sri Lanka Institute of Textile and Apparel, Textile Industry, Tirupur knitwear cluster, utilize Lankan expertise

The NIFT-TEA Knitwear Institute, promoted by Tirupur garment exporters, and Sri Lanka Institute of Textile and Apparel signed a draft Memorandum of Understanding (MoU) in Colombo on Friday for utilizing the Lankan expertise on production management. The MoU will automatically get implemented once the Lankan Government gives the formal approval.

This tie-up is very important as the Lankan institute been famous for producing some of the best technical experts in production technology and management in the textile industry across the globe..

Related Keywords: capital subsidy, demand separat State textile board, development of textile industry, effluent treatment plant, expansion of capacity, focussed approach, interest subsidy, separat textile policy, Tamil Nadu knitwear manufacturers, Tirupur knitwear cluster

Tamil Nadu knitwear manufacturers demand for a separate State Textile Board and also devise a separate textile policy. In a memorandum sent to Chief Minister O. Paneerselvam, the industrialists said that a Textiles Board, and a textile policy would help the government give a focused approach to the development of textile industry.