The Prime Minister meets the Indian Business Community
The Honourable Pravind Kumar Jugnauth, Prime Minister of the Republic of Mauritius, met with members of the Indian business community this evening, at the Le Meridien hotel, in New Delhi. The theme of the event was “Mauritius: Your Preferred Regional Investment and Business Platform”.
In his speech, the Prime Minister stated that he could not have chosen a more appropriate country than India for his very first overseas visit as Prime Minister of Mauritius. He stressed that the strong historical, cultural and economic ties between the two countries are constantly being reinforced.
He reminded the audience that since January of this year, Mauritians are eligible to Overseas Citizen of India (OCI) status, which he considers a landmark occasion in the diplomatic relations between India and Mauritius. Pravind Kumar Jugnauth lauded the personal intervention, in that regard, of Honourable Narendra Modi, Prime minister of the Republic of India.
The Prime Minister reiterated that Mauritius is strategically located at the cornerstone of India and Africa. He stressed on the preferential access to a vast consumer base of 400 million consumers that our memberships with the SADC and COMESA regional economic communities provide, as well as the wide array of bilateral investment treaties and double taxation agreements with a number of African economies.
Pravind Kumar Jugnauth invited the Indian business community to replicate, in Mauritius, the same enthusiasm and buzz it displays in bringing to fruition the initiatives of the Indian Government. He invited them to make the most of the services offered by the Board of Investment (BoI) office in New Delhi to explore the opportunities in Mauritius.
Below is an excerpt of the Honourable Prime Minister’s speech:
“Mauritius is indeed a home away from home for Indians. The Mauritian-Indian partnership is likely to be cemented in a groundbreaking agreement in the form of the Comprehensive Economic Cooperation and Partnership Agreement (‘CECPA’) currently in negotiation. The CECPA will provide the opportunity for even greater flows of trade in goods and services as well as improve cross border investment between our two countries.
The CECPA builds from the successful renegotiation of the Double Taxation Avoidance Treaty between the Mauritian and the Indian Governments in 2016, which has brought certainty to investments between our borders. Investments from Mauritius to India still represent a sizeable proportion of total investments, which provides much comfort in the terms of the new treaty.
The revised treaty is in fact one pillar of our strategy: that of positioning Mauritius as a jurisdiction of substance to service the African continent and be the safety net for Indian investors willing to manage their investments in the region.”