SMEs key source of enterprise and employment: PM

The Prime Minister, Narendra Modi addressing the Parliament of Fiji, in Suva, Fiji on November 19, 2014.

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SME Times News Bureau | 19 Nov, 2014
Small and medium enterprises play a crucial role in economies like India and Fiji, said Prime Minister Narendra Modi in his address to Fiji's parliament on Wednesday.

"As Fiji adjusts to the changing global markets, India is prepared to be your partner – In making your existing industry stronger and finding new opportunities for your youth. For countries like ours, village and small and medium scale industries are the source of enterprise and employment," said the Prime Minister.

"I am pleased to announce a grant of $5 million to strengthen and modernise Fiji's village, small and medium industries," he added.

He also announced a line of credit worth $70 million for Fiji.

"Agriculture supports a majority of the population in India and Fiji. As the largest producer of milk, India can help your dairy industry which can also contribute to your exports," Modi said.

The prime minister said that India was willing to build a digital Fiji and prepare the youth to integrate Fiji with the global IT network.

"In this digital age, every nation can be a part of the global information industry. It is an industry that offers a great path to prosperity and it has the right carbon footprint.

"We are pleased to set up a centre for excellence in information and technology here in Fiji," he said.

The Indian Prime Minister also stressed on collaboration between the two nation in fileds like education and training.

We will also deepen our cooperation in education and training and we will double the number of our scholarships, he said.

He also proposed to work together to harness the potential of Space technology for governance, economic development, conservation, climate change and natural disasters.

"Let us chart a new course. Let us start a new era - When it does not take another 33 years for an Indian Prime Minister to visit Fiji. When Fijians and Indians work with each other from the comfort of familiarity and the ease that comes with the habit of regular partnership," Modi said in his address.