India and Mauritius always shared a special bond. I read somewhere that around 70% of the Mauritian population is of Indian origin. This cultural connection has played a role in fostering economic and trade relations between the two countries.
It started way back in the early 1730s, when artisans were brought from Puducherry and Madras Presidency. Our relationship has sustained since then which is very remarkable and we are here to strengthen it further.
It is a matter of pride that Indians have progressed tremendously well since November 2, 1834 when the ship ‘Atlas’ carried the first batch of Indian indentured labourers. Today, Mauritians of Indian origin are in high level positions.
The diplomatic relations between India and Mauritius were established in 1948. Trade relations have always been good between our countries.
Mauritius Imports from India was US$802.44 Million during 2021. The value of Mauritian exports to India in 2019 was USD 24 million and USD 32 million in 2020. India Imports from Mauritius was US$66.72 Million during 2021. India Exports to Mauritius was US$745.5 Million during 2021. And there is a huge potential for growth.
India mainly exports rice, packaged medicaments, and refined petroleum to Mauritius. During the last 25 years the exports of India to Mauritius have increased at an annualized rate of 4.04%, from $163M in 1995 to $438M in 2020.
In 2020, Mauritius exported $39.5M to India. Mauritius mainly exports to India medical instruments, scrap iron, and animal meal and pellets. During the last 25 years the exports of Mauritius to India have increased at an annualized rate of 6.29%, from $8.58M in 1995 to $39.5M in 2020.
With Global India Business Forum’s support these figures can increase further in a short span. GIBF has always supported bilateral cooperation, trade and cultural exchange between India and other countries. It has been GIBF’s motto to support MSMEs, start-ups and other businesses in India and across the globe to promote global economic development.
Mauritius is a gateway to the market of the African continent. There is growing interest among Indian businesses to access opportunities in the African continent. Indian manufacturers can shift a part of their manufacturing processes to Mauritius and produce for the African market.
The comprehensive economic cooperation agreement (CECPA) between India and Mauritius is an excellent opportunity for trade development. It covers 310 Indian export items, including food and beverages, agricultural products, textiles, base metals, electrical and electronic items, plastics and chemicals and products made of wood.
Mauritius will also benefit from preferential market access to India for 615 products including frozen fish, specialty sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic drinks, soaps, bags, medical and surgical equipment, and apparel.
Indian institutions can set up businesses in the education and healthcare sectors in Mauritius and explore the vast African market.
The two nations have signed various bilateral agreements to enhance economic cooperation. These agreements cover areas such as trade and investment, double taxation avoidance, and protection of investments.
India has been a major source of foreign direct investment (FDI) in Mauritius. Many Indian companies have invested in sectors such as real estate, hospitality, and information technology in Mauritius.
The trade balance between India and Mauritius has generally been in favor of India. India exports a variety of goods to Mauritius, including pharmaceuticals, automobiles, machinery, textiles, and chemicals.