The forthcoming challenges are complex and past solutions must be reviewed but we should not be tempted by doubtful solutions and extreme changes, which could worsen our economic situation. It is not too difficult to criticize and find fault with the private sector, the public sector and the labour force but careless changes could further reduce our historic growth rate.

Amongst other things, we should more forcefully uphold the primacy of the market, open our economy more, motivate the public and private sector, reduce our balance of payment deficit, cut waste, reform taxes, reduce managerial slack, introduce shock therapies on governance, improve skills development and use of new technologies, focus on new areas of growth, attract more FDI, and implement third-generation reforms related to labour market rigidities, enterprise competitiveness and constraints in tapping further selected export markets.

In brief, the future can still be rosy if we implement these solutions seriously. We elaborate on one sector for convenience?s sake. Inspite of sectoral difficulties, our champions in the textile sector will employ around 50,000 persons and continue to strengthen. The textile industry does not have serious structural distortions and, a year after the multi-fibre agreement, forecasts remain positive. There are issues related to the cost of doing business, delivery and the problem of distance from our markets, which need to be thrashed out, but there is no reason to bury the sector. The industry has responded to new opportunities and insiders have confirmed that the potential for further growth exists and increased integration and focus on added value will sustain growth.

The same is true in tourism, financial services, ICT, agro-industry, food processing, free port, re-export, general services, SMEs and value-added manufacturing. Above all, it is suicidal to write off niche areas in manufacturing and export potential in emerging markets as well as COMESA/ SADC member states. It is, however, now a truism that we have better comparative advantages in value-added services and they can offer higher dividends, provided entrepreneurs operate close to the ?world-best frontier? in specific sub-sectors. It will be tedious to expand in each case but if we show greater hunger for growth and our strategy to develop new pillars of growth is successful, Mauritius will remain economically viable and relevant.

The future still lies in our ability to recombine existing strengths and develop new solutions. The Mauritian consensus has to be revamped and reviewed but embracing blindly some other consensus can be fatal. We should not forget that industrialized countries have been vaccinated to enjoy strong protectionism and subsidies up to 2013. The ?Beijing? and ?Delhi Consensus? are delivering 7% annual economic growth but they cannot be replicated here.

Therefore, the only way ahead is a new Mauritian consensus, broadly along the lines outlined in this article. This consensus can ensure modest above trend growth rate but will involve many moments of truth. We will only be successful if we implement key changes and it is as simple or as difficult as that. Put otherwise, our future is still in our own hands.

<B>Vasan APPANAH</B>