The Union Finance Minister, Nirmala Sitharaman, was asked by the Tirupur Exporters Association (TEA) on October 21, 2022, to boost the interest equalisation program subsidy for garment exporting units to 5 per cent.
The TEA said in a letter to Nirmala Sitharaman, a copy of which was made available to the media, that the units’ continued operation is now in jeopardy because of a lack of booking orders, delays in payment, refusals of booked orders, and postponements of shipments.