90% of India’s FDI into Africa Utilizes Mauritius as Springboard

From 14 to 23 March 2024, the Economic Development Board of Mauritius (EDBmu) will conduct a roadshow in India to promote economic cooperation. The itinerary includes New Delhi, Chennai, Hyderabad and Mumbai.

The mission will explore the strengthening of partnership in the areas of #EdTech, #FinTech, #eHealth, #RenewableEnergy, amongst others. In order to render it compliant the OECD Base Erosion and Profit Sharing (#BEPS) minimum standards, the Double Tax Avoidance Treaty (#DTAT) between Mauritius and India was also amended.

During the state visit by Indian President Droupadi Murmu in Mauritius from 11 to 13 March 2024, an MOU between the Financial Services Commission (FSCmu) of Mauritius and the Gujerat International Finance Tec-City (GIFT City) was signed.

Additionally, another MOU between the Independent Commission Against Corruption (ICACmu) of Mauritius and Central Bureau of Investigation (CBI) of India was inked in order to reinforce the fight on #AMLCFT.

Mauritius and India have enabled the international payment gateway to facilitate cross-border transactions and #DigitalPayments via the #RuPay service and #Vostro account.

Currently, Mauritius is the only African state enjoying a Free Trade Agreement (#FTA) with India — in the form of the Comprehensive Economic Cooperation and Partnership Agreement (#CECPA) — with the stated objective to boost bilateral trade and investment.

During the state banquet in honor of Indian President Murmu, Mauritian PM Pravind Jugnauth underscored that 90% of India’s #ODI into Africa is routed and structured via the Mauritius International Financial Centre (#IFC). From the other way round, up to 40% of #FDI into India is also structured via Mauritius thanks to the #DTAT. The Mauritius IFC thus plays a critical role to promote investment both in and out of India.