Home / Knowledge / News / Textiles / H1 witnesses crumbling of SMEs
H1 witnesses crumbling of SMEs
06
Aug '08
According to the SMEs Division of the State Development and Reform Commission, due to various factors like the slowdown of international economic situation and domestic macro structural adjustment, a considerable number of small and medium enterprises are facing funding strand breaks and other difficulties this year.

Nearly 1/10 of above scale SMEs achieved a growth rate of nearly 30 percent in industrial added value, over the first half of 2008, showcasing a drop of 15 percent when compared to same time of last year.

According to preliminary statistics, nearly 67,000 of above scale SMEs collapsed during the first six months of this year.

The textile industry has more than 10,000 small and medium enterprises closed, while almost 2/3 of textile enterprises are facing restructuring.

At present, SMEs create around 60 percent of GDP with ultimate product and service value and they provide around 50 percent of total tax revenue for the State. SMEs have become the main channel for generating employment, it provides job opportunities to most of the laid-off workers from state-owned enterprises and migrant workers.

Experts believe that, with the growth of SMEs, the State can maintain financial, employment as well as social stability. Thus, for maintaining social stability, supporting SMEs has become a 'must-choice' for the Government.

Any positive initiatives for small and medium enterprises will be beneficial to social prosperity and stability.

Fibre2fashion News Desk - China


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Top executives
Textile industry, India

The event should be organised every year

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search