Mauritius invites Indian entrepreneurs to invest

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SME Times News Bureau | 09 Feb, 2012
Assuring a safe and high-return environment, Mauritius Prime Minister Navinchandra Ramgoolam Wednesday asked Indian entrepreneurs to step up investments through partnerships and joint ventures, and use the island nation as a gateway to African markets.

"We see ourselves as a bridge between Asia and Africa," said Ramgoolam, addressing a business meeting organised jointly by three leading industry chambers.

"Time is ripe for Indian companies to plug in to the African nations using Mauritius as a base."

The Mauritian prime minister is on a six-day official visit to India. He is accompanied by a high-level business delegation.

Wednesday's meeting was organised jointly by the Federation of Indian Chambers of Commerce and Industry (FICCI), Confederation of Indian Industry (CII) and Associated Chambers of Commerce and Industry (Assocham).

Ramgoolam said high growth recorded in the last two decades had made Mauritius an attractive investment destination.

Mauritius is the largest source of FDI in India. Between April 2000-November 2011, FDI inflows from Mauritius were USD 62.05 billion, which is 40.67 percent of the total FDI inflows during that period.

Indian investments in Mauritius were USD 13.56 million during April 2006-Dec 2011. India has been the largest exporter of goods and services to Mauritius since 2007.

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

Addressing the meeting, Commerce and Industry Minister Anand Sharma emphasised the need for further strengthening the business and economic engagements between the two countries.

"We have a commitment to see that India's strong ties with Mauritius remain intact," he said.