Mauritius can be base & gateway for Indian Businesses for doing Business in African & emerging markets: Mauritius High Commissioner to India
News Mania Desk/PARTHA ROY/2nd September 2024
Mauritius – India economic and trade relationship are growing steadily over last several decades .
Bharat Chamber of Commerce organised a Special Session on ‘India-Mauritius Trade and Investments: Current and Future Perspectives’ addressed by Mr. Haymandoyal Dillum, High Commissioner of Mauritius to India at ‘BHARAT CHAMBERS’, Kolkata on 31st August 2024 .Mr. Dillum highlighted various incentives offered by Government of Mauritius to promote investment in the diverse economic sectors in the island nation. Mr. Dillum mentioned about various economic & trade agreements between Mauritius and India as well as Mauritius and African nations , USA , EU , China .
Mr. Dillum mentioned Mauritius has huge landbank given to Mauritius by several African countries in African mainland to develop townships like smart cities as well as setting up manufacturing industries which can be used by Indian investors and business to do business with 54 African nations having population around 500 million .
Mr. Dillum highlighted that Mauritius is developing Ocean based economy and pushing for development of its fishing industry sector.
Mr. Dillum recalled historical connect between India and Mauritius when first batch of Indian labourers went to Mauritius through Kolkata to work in sugar plantation in 1834.
Mr. Dillum emphasised Mauritius is concentrating on developing tourism, hospitality, pharmaceutical ,education, IT/ITES ,solar/ clean energy sectors along with traditional sector like agricultural and textile in future and Indian investors have big scope and opportunities to invest in these sectors.
Mr. Dillum emphasised that Mauritius located strategically on the network of air and sea routes between Asia, Europe and Africa, boasts of an institutionalised and legal framework that unlocks business opportunities for foreign investors and access to the African continent powered by the African Continental Free Trade Area (AfCFTA). Besides, the AfCFTA, Mauritius is also part of the COMESA and SADC countries, which gives manufacturers and exporters from Mauritius to export to these countries duty free. Moreover, the implementation of the African Growth and Opportunity Act (AGOA) between Mauritius and US, will further provide impetus to Indian investors looking into Mauritius as a preferred destination for manufacturing and exporting to the US.
Mr. Dillum further added that being a safe haven, Mauritius provides protection to investors. Besides, the Governments of Mauritius and India are working on the ‘vostro account mechanism’ for settlement of trade transactions, in there own currency providing a further stimulus to trade and business opportunities between the two countries.
Speaking on the pharmaceuticals and healthcare sector, Mr. Dillum stated, “Post COVID, Mauritius is developing its healthcare sector. Therefore, there are a lot of opportunities in setting up of hospitals in Mauritius and also scope for manufacturing medical devices and exporting to Europe, China, Turkey and other countries”.
Mr. Dillum deeply appreciated role of Indian government as well as Indian private sector in developing the economy of island nation
Mr. Dillum mentioned Mauritius is developing itself as global financial hub.
Mr Dillum proposed taking a Business delegation of Bharat Chamber of Commerce to Mauritius as well as signing of MOU between Bharat Chamber of Commerce and Mauritius Business Chambers .
In his Welcome Address, Mr. N. G. Khaitan, President BCC observed that Mauritius is gradually transitioning into a financial hub, apart from being a coveted tourist destination. In the context of boosting trade and augmenting tourism from eastern India, Mr. Khaitan emphasised strengthening connectivity with direct flights between Kolkata and Mauritius.
(Photo courtesy: Buddhadev Misra)
