TEA SEEKS Fund for product promotion

The knitwear exporters here have sought the Finance Commission to constitute an exclusive Market Development Fund for the promotion of products developed from Tirupur knitwear cluster, with a corpus of Rs. 1,000 crore. The cluster-specific fund should be utilised to subside the expenditure incurred by the exporters from the cluster, which contributed over Rs. 10,000 crore of foreign exchange to the country’s exchequer, for taking part in the buyer-seller meets, export promotion seminars and trade fairs held both in the country and abroad. Participation in such trade promotion events will help the entrepreneurs here widen their client base substantially thereby realise the targeted export turnover of Rs. 25,000 crore from the cluster by 2012.