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Govt to save jobs in T&G sector with stimulus package
19 Feb '09
1 min read
The textile and garment industry, which provides employment to hundreds of thousands of workers, is feeling the heat of the recessionary trends prevailing in global markets, particularly in its key US markets which is the epicenter of the whole crisis.
On the lines of a stimulus package announced by their respective governments in India and China, the textile and garment sector in Mauritius is also set to receive a similar type of stimulus package from its government.
This announcement has come on the heels of garment manufacturing companies, who have started laying-off workers and are also not able to keep their repayment commitments with the banks and financial institutions.
The industry which employs over 50,000 workers is facing mass unrest, due to the closures effected by their respective companies who in turn have been deeply impacted by the slowdown in the global markets.
On the lines of a stimulus package announced by their respective governments in India and China, the textile and garment sector in Mauritius is also set to receive a similar type of stimulus package from its government.
This announcement has come on the heels of garment manufacturing companies, who have started laying-off workers and are also not able to keep their repayment commitments with the banks and financial institutions.
The industry which employs over 50,000 workers is facing mass unrest, due to the closures effected by their respective companies who in turn have been deeply impacted by the slowdown in the global markets.
Fibre2fashion News Desk - India
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