Many untapped areas in India-Mauritius trade: Sharma

Anand Sharma and Cader Sayed Hossen in New Delhi on Tuesday.

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SME Times News Bureau | 08 Feb, 2012
There are a number of potential areas in India-Mauritius bilateral trade and they need to be exploited, said Commerce and Industry Minister Anand Sharma in New Delhi on Tuesday.

Sharma held bilateral talks with his Mauritius counterpart Sayyad Abd-Al-Cader Sayed-Hossen aimed at further strengthening economic ties.

"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, pharmaceutical, medical equipment, seafood, automobile parts, tourism and hospitality, IT and IT-enabled services," Sharma said after the meeting.

India has been the largest exporter of goods and services to Mauritius since 2007 while 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.

He 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.

Mauritius Prime Minister Navinchandra Ramgoolam arrived New Delhi Tuesday on a six-day official visit to India.

He is accompanied by senior ministers and a large business delegation.

Mauritius, a strategically located Indian Ocean island state where persons of Indian origin make up over 60 percent of the population, has been asking India to play a more active role in fighting piracy in the region as it impacted security, fishing and tourism.