Mauritius and India tie up to boost SME sector
India and Mauritius signed an agreement yesterday on skill development and capacity building to boost micro, small and medium enterprises (MSMEs). (Image: business.mega.mu)
An agreement between India and Mauritius on skill development and capacity building to boost micro, small and medium enterprises (MSMEs) was signed yesterday.
Indian Minister of State for Micro, Small and Medium Enterprises, KH Muniyappa was on a visit to the island economy from November 30, 2013 to December 2, 2013.
Official interactions with Muniyappa, Mauritian ministers and senior officials took place, culminating in the agreement on MSMEs.
During the interactions, Muniyappa commented on India’s decision to cooperate with the island in the small and medium enterprises’ field in the form of training inputs, institution building, and technology transfer.
Mauritius’ minister of business, enterprise and cooperatives, Jangbahadoor Seetaram, signed the Memorandum of Understanding (MoU) on behalf of the island economy while Muniyappa signed it on India’s behalf.
The Indian minister expressed the belief that, through this positive engagement, an ideal framework can be created by his ministry for further collaboration in this sector.
This concrete collaboration is important for both countries’ common vision and balanced economic growth, he noted.
With the MoU, additional capacity building for developing a suitable policy and institutional framework in the MSME sector will be provided. Identification of areas and opportunities for development of MSMEs in Mauritius can be done through surveys and studies.
The MoU also provides for training on managerial and technical skills for MSMEs. Further, projects run under a partnership structure will be promoted under the MoU framework.
During the recently released Budget 2014, Finance Minister for Mauritius, Xavier-Luc Duval, mentioned that the Public Procurement Office will help SMEs to understand and take part in government procurement by holding a series of courses.
Further, a National Inclusive Business Award will be organized by the Ministry of Business, Enterprise and Cooperatives to recognize efforts by large businesses to support SMEs.
The government will also provide SMEs with a free basic website, he noted.
And, to support these measures highlighted during the budget 2014 speech, the two ministers discussed the setting up of a vocational training centre in Mauritius for the benefit of the Mauritian SME sector.
This incubation centre will be an advantage for the first generation potential entrepreneurs and unemployed people because it will give them hands-on practical training in order to make them knowledgeable and provide them with the expertise to set up new enterprises.