India a Steadfast Partner in Mauritius’ Socio-Economic Growth: PM Ramgoolam

In his speech at the Mauritius-India Business Conclave, Mauritius Prime Minister Navinchandra Ramgoolam commended India as an effective collaborator in the socio-economic development of Mauritius. He highlighted the increasing trade relations, especially in the wake of the Cooperative Economic Cooperation and Partnership Agreement (CECPA), with Mauritius exporting goods valued at 50 million USD in a year to India. Although there were economic uncertainties in the world, he underlined the timeless relationship between the two countries and urged trilateral cooperation between India, Mauritius, and Africa to support the overall development.

Key Points in Detail

Economic and Trade Deepening.

• India has been among the best trading partners of Mauritius and India forms the third largest import contributor to the island state.
• CECPA has been instrumental in improving trade relations where Mauritius exports average 50 million USD annually to India and its exports are expected to increase to 50 million USD yearly in future.
• Tourism: Ramgoolam also called on more Indian tourists to come to Mauritius with a view of enhancing bilateral economic collaboration.

Three-Way Collaboration and Development.

• It is believed that trilateral partnership between India, Mauritius, and Africa is essential in the development of the areas.
• Mauritius cares to be the most active and supportive partner of India particularly being one of the key providers of Foreign Direct Investment (FDI) in India.

Dealing with Economic Uncertainties in the World.

• Ramgoolam accepted the instability in the global economy because of such factors as trade wars, protectionism and supply chain disruptions.
• In spite of these hurdles, he gave an assurance that, the Mauritius -India relationship would stand the test of time and will only go stronger, despite the happenings of the world.

The Role of Mauritius in the development of India.

• The steadfast assistance Mauritius has received in overcoming economic challenges due to India has played a key role in ensuring that Mauritius experiences a sustained growth because of global uncertainty.
• The well-established diplomatic, trade and cultural ties between India and Mauritius have been significant in the development of the two countries.

Conclusion

The Mauritius-India Business Conclave strengthened the strong and long-term relationship between India and Mauritius, centered on the future of trade, investment, and tourism. In the case of RAS, this partnership demonstrates the significance of bilateral cooperation in international trade and the impact of regional relations and the role of small economies such as Mauritius in terms of overcoming global economic uncertainties. It also brings out the benefits of strategic alliances in the fast-evolving global world to the two countries.