India-Mauritius Global Partnership Summit 2016 Countdown
L-R : Ms. Rupa Naik, Director- Project, World Trade Center Mumbai, Mr. Deven Maulloo, Director-Conference, Capt. Somesh Batra, Vice Chairman, World Trade Centre Mumbai, Mr. Deepak Vasantrao Kesarkar, Minister of State Dept. of Finance, Rural Development, Planning, Govt of Maharashtra, Hon' Raj Rampartab, Member of Parliament, Parliamentary Private Secretary, Mauritus, and Incharge, Development Desk at Prime Minister’s Office Mauritius, Ms. B. K. Napaul, Officer-in-Charge, Consulate of the Republic of Mauritius, Mr. S. K. Chadda, Chief Strategical Advisor & Secretary General, IMTCFF, Mr. Pritpal Singh Pannu, President, IMTCFF
Mauritius opens doors for Indian
companies in biggest ever investment drive
by Shrutee K/DNS
Mumbai, June 14, 2016: India and Mauritius inched towards a closer
economic partnership as the country opened its doors for 10 top economic sectors
to Indian entrepreneurs.
The first ever India-Mauritius Global Partnership Summit
2016 to be held between July 23-28 in the island country is the biggest
initiative to boost trade between the two countries. Promoting the Summit
across India in terms of seminars and road shows India-Mauritius Trade and
Cultural Friendship Forum is estimating 250 Indian delegates to join the 150
African continent participants to forge business alliances.
“Mauritius is a business-friendly
nation and this Summit is a big opportunity for Indian entrepreneurs as it
would open a gateway to Africa and enable them to develop their business,”
stated Deepak Kesarkar, minister of
state of finance, rural development, planning, government of Maharashtra. He
was speaking at the Summit’s run-up event held today at the World Trade Centre, Mumbai.
Stating that his country is
developing very fast, Raj Rampartab, MP
and Parliament Private Secretary, Mauritius,
said that Indian companies must come to his country with an aim to look
beyond. “We are in the strategic position vis-à-vis the African continent and
we also have the necessary trade treaties,” he added.
Let’s talk business, is the theme
of this Summit. Mauritius has grown from US$200 economy from the ‘70s to a
US$9,300 economy now. Tourism counts for 7.5 per cent of its GDP, financial services
will be 17 per cent in next 4 years and progressive farming is 2.9 per cent.
ICT and BPO are the pillars of their economy.
“The Summit is a people-to-people meeting. Mauritius is on top of ease
of doing business and entrepreneurs can set up a company within three working
days,” explained Deven Maulloo,
director, conference.
70 per cent of the island
country’s business comes from off shore, which has 17,000 companies in the fray
and more coming. “Indian businesses must
know that Mauritius is an important regional player through its membership of
two major African blocks - South African
Development Community (15 African countries) and Southern African states and Common
Market for Eastern and Southern Africa (19 African countries). There are no
trade barriers between us and this way Indians can look outbound,” insisted
Maulloo.
Indian investors are also shown
the crucial US$ 2 billion project of Heritage City. In the country’s smart city
initiative, Indians are being given a priority. “Many foreign universities have
opened in Mauritius and Maulloo felt that since Mauritius has 25,000 working
graduate population, Indian universities must set shop there soon and can even
plan vocational and technical training centres,” concluded Maulloo.
Work, Stay and Play – that’s the
message Mauritius is sending to Indian investors.
Capt. Somesh Batra, vice-chairman, WTC, Mumbai, stated, “India is
Mauritius’ largest trading partner and has been largest exporter of goods and
services. Mauritius was the single largest source of FDI into India in 2014-15
amounting to US$9.03 billion. It is but natural that both countries must
develop stronger economic bond and this Summit is the perfect beginning of it.”
Mauritius,
at a glance
*Income tax, corporate tax and
VAT at 15 per cent
*No capital gains tax
*Duty Free and VAT free
facilities for goods and equipment imported in Freeport zones
*Tax holiday over 8 years under
Smart Cities Scheme
*Incorporation of a company in 3
working days
*Bursting ocean economy
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