Home / Knowledge / News / Textiles / Govt provides aid to SMEs for uplifting economy
Govt provides aid to SMEs for uplifting economy
30
Aug '08
Dr Vasant Bunwaree, Minister of Finance while addressing the meeting on Empowering SMEs to Export stated that, the Government is making huge investments to strengthen the SMEs of the nation.

The conference took place on August 28 at Swami Vivekananda International Conference Centre, was attended by industry representatives and high officials.

Minister of Finance further said that the Government has already invested nearly Rs500 million for setting up of a Manufacturing Adjustment and SME Development Fund for improving the competitiveness of Domestic Oriented Industry and SMEs.

The Government of Mauritius has recognized the potential of the SME sector as a major tool for reducing unemployment and enhancing economic growth. This industry with more than 92,000 enterprises, has a turnover of almost Rs42 billion and there is still scope for further development.

The officials would also bring Amendments to Dangerous Chemicals Act, for ensuring the legislations, regulating local manufacturing that will be applied to imports by SMEs.

According to the experts, these enterprises mainly export textile related products, however, now with a variety of facilities being provided, industry should make an effort to find out ways of exploiting local markets as well as explore international arenas for boosting their exports.

The aim of the officials is to double the GDP, which at present is approximately $7,800 per capita and. This initiative of uplifting SMEs is expected to help the Government achieve its desired goal.


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Steve Cole
Xerium Technologies

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Prathyusha Garimella
Prathyusha Garimella

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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