India – Mauritius economic and commercial ties to be further strengthened

India and Mauritius have expressed satisfaction that their bilateral economic and commercial ties have shown a healthy upward trajectory. India has been the largest exporter of goods and services to Mauritius since 2007. Union Minister of Commerce Industry and Textiles Shri Anand Sharma told his Mauritius counterpart Mr. Sayyad Abd-Al-Cader Sayed-Hossen here today that our economic and commercial relations are expanding. But there is still a lot of untapped potential that needs to be exploited especially in sectors like agro-processing, manufacturing, drugs and pharmaceuticals, medical equipment, seafood, automobile parts, tourism and hospitality, IT and IT enabled services, Ayurveda, etc.

Both the leaders noted that Mauritius is single largest source of FDI into India. FDI inflows from Mauritius have been US$ 62.05 billion (40.67 % of the total FDI inflows) from April, 2000 to November, 2011. Indian investments in Mauritius have been rising continuously. Indian investments in Mauritius were US$ 13567.49 million during April 2006 December 5, 2011. Major Indian companies in Mauritius are Apollo, Fortis, Benani Cements, Financial Technology (India) GBOT, Oberoi Group, Patel Engineering, Aadicon, Ajanta Pharma, Essar Group amongst others.

The Mauritian Minister expressed happiness over India™s decision to lift the ban on the export of non-basmati rice. He further requested that if in future such bans are considered, Mauritian demands may be exempted from such ban. Shri Sharma assured that keeping in mind the special relationship between the two countries a special dispensation will be made and Mauritius will never have any problem.

Mr. Sayyad Abd-Al-Cader Sayed-Hossen also expressed interest in collaboration for skill development in gems and jewelry sector and deeper support from India for developing capacities in consumer protection and metallurgy sector.

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