EU Green Deal: Unlock new market opportunities in Europe
2 Déc 2024
The Economic Development Board organised a Program on Fostering Business Opportunities between Mauritius and India which took place on Tuesday 28 November at our Office in Ebene. The event was marked by the presence of a business delegation from the PHD Chamber of Commerce and Industry (PHD CCI), in visit in Mauritius, to explore business opportunities.
In his welcome address, Mr. Hemraj Ramnial, Chairman of the Economic Development Board (EDB) Mauritius, highlighted the longstanding diplomatic, economic, and cultural relations between Mauritius and India, celebrating the 75th year of their diplomatic ties and the immense potential for business collaboration, citing India as a key priority for investment and trade.
The Chairman outlined key reasons for investors to consider Mauritius as an investment destination, including top rankings in global indices for good governance, a competitive tax rate, and a business-friendly regulatory framework. The Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with India, signed in 2022, was emphasized as a groundbreaking initiative with the potential to boost bilateral trade and explore new opportunities in Africa.
Mr. Arvind Radhakrishna, Strategic Advisor to the Economic Development Board (EDB) pointed out the importance of the Indian delegation’s visit in assessing investment opportunities. Sectors such as Healthcare, Financial Services, and Electric Vehicle (EV) Manufacturing were identified as top priorities for development in Mauritius.
Dispelling the notion of Mauritius as merely a small market, Mr. Radhakrishna urged Indian businessmen to view Mauritius as a Gateway to the African continent. With Mauritius already serving as the Investment Hub to Africa, the strategic positioning of the country offers unprecedented access to a fast-growing and vast market.
To recall, Mauritius was invited as a Guest Country to all G20 meetings during India’s presidency. This recognition underscores the enduring friendship between the two nations and provides Mauritius with a unique opportunity to contribute to global governance.
Mr. Vimarsh Aryan, Deputy High Commissioner of India, underscored the critical importance of aligning the three Cs – customer demands, commercial viability, and conducive environment – for successful business ventures in India, Mauritius, and Africa. He reiterated the necessity of a favorable environment encompassing security, regulatory frameworks, and financial stability to attract investment. Mr. Aryan highlighted that the convergence of these three Cs, along with strong people-to-people linkages, including cultural understanding, is pivotal for the prosperity of businesses in the regions of India and Mauritius.
Mr. Vijay Sheoran, Co-Chair of the International Affairs Committee for Europe & CIS and a prominent member of the PHD Chamber of Commerce & Industry delegation from India, expressed the delegation’s desire to foster collaboration with the Mauritian industry. He emphasized their goal to establish and strengthen business ties in Mauritius, with a focus on creating partnerships and enhancing overall production in the country. Furthermore, Mr. Sheoran outlined the delegation’s long-term vision, which involves expanding their joint activities beyond Mauritius into the broader African market when conditions are conducive.
An MoU signed between the PHD Chamber and Indian Business Council Mauritius during the program marked a significant collaboration, further deepening business opportunities between the two nations.
About the PHD CCI
The PHDCCI has been working as a catalyst for the promotion of Indian industry, trade and entrepreneurship for the past 118 years. It is a forward looking, proactive and dynamic PAN-India apex organization. As a partner in progress with industry and government, PHDCCI works at the grass roots level with strong national and international linkages for propelling progress, harmony and integrated development of the Indian economy.
Reaching out to 150,000 large, medium and small industries, the PHDCCI also provides a conducive business environment to Indian companies to establish and grow in global markets through market development opportunities, policy interventions and alliances to build stronger and deeper relationships with overseas clients and stakeholders.
