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Home Latest News

India and Mauritius will increase business relations, agreement to increase economic cooperation

by InvestPolicy
March 1, 2021
in Latest News
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India and Mauritius will increase business relations, agreement to increase economic cooperation
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The CECPA between India and Mauritius covers 310 export items to India. It includes many things including food items and beverages.

India Mauritius

India and Mauritius have signed a Comprehensive Economic Cooperation and Partnership Agreement, which provides an institutional mechanism to encourage and improve trade between the two countries. India decided to change its trade relations with Mauritius, as it was found that the earlier Double Taxation Avoidance (DTA) treaty with Mauritius was being misused to control illegal money in India.

In fact, the tax advantage made India Mauritius the largest supplier of foreign direct investment in the country. Since then various gaps in the earlier trading system have been removed.

The agreement based on these rules

The new CECPA agreement was signed by Indian Commerce Secretary Anoop Wadhawan and Ambassador Hemandoil Dillam, Foreign Affairs Secretary in Port Louis in the presence of Prime Minister of Mauritius and Indian Foreign Minister S. Jaishankar. CECPA is the first trade agreement signed by India with any African country. The treaty is a limited agreement, which will cover cooperation in goods trade, core of rules, service trade, technical barriers (TBT), sanitation (SPS) measures, dispute settlement, telecommunications, financial services customs procedures and other areas.
310 export of goods

This trade agreement provides an institutional mechanism to encourage and improve trade between the two countries. The CECPA between India and Mauritius covers 310 export items to India. This includes food items and beverages, agricultural products, textiles, metals and and electronic items, plastics and chemicals, wood and other items. Mauritius will benefit from access to the preferential market in India for its 615 products. These include frozen fish, sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic beverages, soaps, bags, medical and surgical instruments.

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Tags: Business DealIndia mauritiusindian economy
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