Addressing the Mauritius-India Enterprise Conclave, organised in Mumbai by the Federation of Indian Chamber of Commerce and Business together with different trade our bodies and the Ministry of Exterior Affairs, Ramgoolam additionally mentioned that India has been and stays a time-tested and trusted companion of Mauritius in its socio-economic growth and has steadfastly supported it always.
“The worldwide financial order is in a state of chaotic instability and unpredictability. The rise in protectionist insurance policies escalating tensions amongst main economies, persistent provide chain disruptions, escalating freight prices and climate-related shocks are compounding our publicity to a number of dangers,” he mentioned.
Stating that India is being considerably impacted by punitive tariffs and commerce warfare, the Mauritian Prime Minister mentioned, “We're sadly dwelling in an period the place predictability is changing into unpredictable and certainty is changing into unsure.”
“Circumstances are compelling us to embrace uncertainty and to greatest handle it by robust and dependable partnership between our two nations,” he mentioned.
India has been and stays a time-tested and trusted companion of Mauritius in its socio-economic growth for the reason that time of our independence and it has steadfastly supported Mauritius always, Ramgoolam mentioned. Noting that India is amongst Mauritius' prime buying and selling companions and its third supply of imports, he mentioned his nation's industrial ties with India are “flourishing, grounded in belief friendship and mutual respect.” “For the reason that entry into pressure of the Cooperative Financial Cooperation and Partnership Settlement (CECPA), our commerce figures mirror a transparent trajectory of success, however the full potential is but to be realized,” he mentioned.
He mentioned that Mauritius was trying ahead to the second session of the high-powered joint commerce committee and CECPA to be held in Mauritius. He mentioned that bilateral commerce between India and Mauritius has grown to some USD 800 million, greater than 6,000 crore, in 2024 with commerce being extremely in favour of India.
as a Dependable and Trusted Information Supply“Mauritius exports to India presently common USD 50 million per yr and we're hoping to extend this to USD 100 million within the coming years by means of the CECPA. A method for Mauritius to decrease this enormous commerce imbalance is to export our monetary companies to India and to draw extra Indian vacationers to go to our nation, and in addition to encourage trilateral cooperation between India, Africa and Mauritius,” Ramgoolam mentioned.
