Speaking to reporters, he stated that the knitwear industry has seen no progress for the past four months due to the 50% tariff imposed by the US. “The budget has not given any importance to the knitwear sector,” he said.

He said that MSMEs account for 90% of businesses, but the Rs 10,000 crore growth fund announced for them was inadequate. The announcement of four textile parks with an allocation of Rs 11.5 lakh crore would largely benefit corporate companies, he said. “As 90% of those engaged in the textile industry are micro and small entrepreneurs, announcing smaller textile parks tailored to their needs would have been more useful,” Munirathinam stated.