No. PR- 062
June 16, 2021
India has always been supportive in the development of Mauritius
India has always been supportive in the development of Mauritius as it is the first African nation to implement trade agreement with India. The business relations between the nations can be increased given the economic cooperation and partnership agreement can be fully utilized. Comprehensive Economic Cooperation and Partnership Agreement (CECPA) offers a win-win opportunity for Indian exporters and importers in Mauritius. It improves India’s access by eliminating or reducing tariffs on goods and removing regulatory bottlenecks in the service sector. The agreement offers financial access to many products which are in the interest of India including tea, species, sugar, ayurvedic products, glasses, and many more. It offers to expand bilateral trades in the service sector mentioned Mr. Alan Ganoo, Hon’ble Minister of Foreign Affairs, Regional Integration and International Trade, Mauritius in a session on Global Trade and Investment Opportunities for Indian Industry in Mauritius organized by PHD Chamber of Commerce and Industry (PHDCCI).
Mr. Alan Ganoo mentioned that the continued interactions between business communities of Mauritius and India are crucial in unlocking huge business opportunities especially in the context of comprehensive economic cooperation and partnership agreement.
Citing the developing projects undertaken by India and Mauritius, he mentioned that they pay the legacy of our special relations. Our trade and investment relations have been intensified over the years. With Foreign Direct Investment, Indian offices, and companies in several sectors, India has been one of the most important partners in the Mauritius market, indicating the dynamism in business relations.
H.E. Mrs. Santi Bai Hanoomanjee, High Commissioner of Mauritius to India while discussing the relationship shared between India and Mauritius, mentioned that CECPA will mark a pivotal landmark to foster trade and economic cooperation between the two countries and opens new avenues of trade and investment opportunities for the business community especially during this global recession. It will provide economic revival for both nations.
Dr. Narainduth Boodhoo, Director, Trade Policy, Ministry of Foreign Affairs, Regional Integration and International Trade, Mauritius in his presentation on comprehensive economic cooperation and partnership agreement between Mauritius and India discussed the trade relations between India and Mauritius; various components of CECPA; opportunities for goods and services and regional dimension. He mentioned that India remains one of the major FDI sources in Mauritius. He also discussed the India- Mauritius- Africa trade and business dynamics which will help to benefits each other in increase business growth and partnerships.
Mr. Seewraj Nundlall, Counsellor (Investment & Trade), Economic Development Board, Mauritius informed that the Mauritius-India diplomatic and economic partnership has been reinforced with excellent exchanges in services especially in the financial and ICT sector. He mentioned that the main economic sectors of Mauritius includes manufacturing, tourism and ocean economy, financial services, real estate, and property, and ICT and BOP. Talking about the opportunities for Indian companies for investment in Mauritius can be in the sector like IT, Startups, E-Commerce, Manufacturing, Food Processing, Healthcare, Education Film Industry, Wealth Management and many more.
Ms. Rooma Narrainen-Pillay, Manager – Trade Division, Mauritius Chamber of Commerce and Industry while sharing the private sector perspective, shared opportunities in Mauritius in terms of ease of doing business; trade agreement network, and investment incentives. On business opportunities, she shared that it can happen in the sectors like joint public-private sector committee; implementation of CECPA; joint ventures and partnerships, and export of goods and services in manufacturing, health, and ICT sector.
Mr. Sanjay Aggarwal, President, PHDCCI in his presidential address deliberated the effect of the pandemic on both nations, especially in tourism, economy, business, and industry. He mentioned that the opportunity for bilateral trade and economic cooperation is immense in both countries. The comprehensive Economic Cooperation and Partnership Agreement (CECPA) signed between both countries will be a milestone in our relationship.
He shared that India has been one of the largest trading and export-import partner to Mauritius. The main items of export to Mauritius include pharmaceuticals, cereals, cotton, electrical machinery, clothing, and many more. Since the past years, India has played a pivotal role in the development of Mauritius’s infrastructure, human resources, skill development, capacity building, and many more.
Mr. Vivek Agarwala, Chair, International Affairs Committee for Africa, PHDCCI while sharing the Indian perspective shared CECPA is a timely step taken as it reflects the importance of Mauritius to India. CECPA will help to boost business and economic ties shared between the nation in the times to come.
The session was attended by Mr. Saurabh Sanyal, Secretary General, and moderated by Mr. Naveen Seth, ASG, PHDCCI, and was attended by many industry stalwarts around the world. PHD Chamber of Commerce and Industry’s webinar was supported by DLF India; Multani Pharmaceuticals Ltd; UFLEX Ltd; JK Tyre & industries ltd; Marble City; Paramount Cables ltd; SMC Investments and Advisors Limited; Blossom Kochhar Aroma Magic; Comtech Interio; DCM Shriram Industries Ltd; Radico Khaitan ltd; Ajit Industries Pvt Ltd; Synergy Environics Ltd; Timberworkz and IFFCO.
PHD Chamber of Commerce and Industry