News – AU – India, Mauritius sign limited trade pact

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India and Mauritius signed a Comprehensive Economic Cooperation and Partnership Agreement (CECPA) on Monday This was India’s first trade pact with an African country

Under the “limited” deal, India will have preferential access to the Mauritius market for 310 products while Mauritius will have access to 615 products. New Delhi will also have access to approximately 115 subsectors in 11 broad service sectors, including software , Financial Services and Telecommunications The agreement also contains provisions for the unrestricted free movement of professionals

The Indian cabinet announced the CECPA on Jan. Approved February The agreement is expected to enter into force in March The agreement was signed in the presence of Mauritius’ Prime Minister Pravind Jugnauth and India’s Foreign Minister S Jaishankar

Bilateral trade between India and Mauritius increased by 233% from 207 million USD 690 million in the period 2005-2006 India’s exports to Mauritius in fiscal year 20 increased 232% from 199 million USD to 662 million USD, while imports of almost 7 million USD to almost 28 million USD rose

This is the first trade pact since the Indian government launched the Atmanirbhar Initiative last year, it is also expected to create the conditions for similar agreements with other African nations in which China is already heavily represented

In trade in goods, Indian exporters receive preferential treatment for food and beverages (80 inch lines), agricultural products (25 lines), textiles and clothing (27 lines), base metals and related items (32 lines), electrical appliances and electronics (13 lines ), Plastics and chemicals (20 lines) and wood and related articles (15 lines)

Similarly, Mauritius gains access to products such as frozen fish, specialty sugars, biscuits, fresh fruits, juices, bottled water, beer, alcoholic beverages, soaps, bags, medical and surgical equipment and clothing

Indian service providers gain access to wide sectors such as professional services, computer related services, research on & development, other business services, telecommunications, construction, sales, education, environment, finance, tourism & travel related, leisure, yoga, audiovisual services and transportation services the Indian government said in a statement last week

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India, Subrahmanyam Jaishankar, Maldives, Mauritius

News – AU – India, Mauritius sign limited trade pact

Source: https://www.financialexpress.com/defence/india-mauritius-sign-limited-trade-pact/2199918/