Mauritian firms invest $300 m in India since Jan 2003

The Dollar Business Bureau

Mauritian firms have invested about $300 million in India during the period of January 2003 and July 2016, said a Minister from Mauritius on Sunday. 

Mauritius is the biggest single investor in the country.

“Indigenous Mauritian companies have invested close to $300 million during January 2003 and July 2016 - a truly amazing figure,” CII (Confederation of Indian Industry) quoted Pravind Kumar Jugnauth, Minister of Finance and Economic Development, Mauritius, as saying. 

The Minister said that the port development and smart cities are the present areas of focus in his country. 

Jugnauth also extended an invitation to companies from India to get benefitted from the new industrial parks in Mauritius. 

On the other hand, India has also done considerable investments in Mauritius with eight public sector enterprises presently functioning in the country, said CII.

The Bank of Baroda (BoB), New India Assurance Corporation (NIAC) and Life Insurance Corporation (LIC), were the first to set up operations in Mauritius. Along with these the other PSUs which established operations were India Handloom House, Indian Oil (Mauritius) Limited (IOML), Mahanagar Telephone (Mauritius) Ltd, Telecommunications Consultant India Ltd (TCIL), and State Bank of India (Mauritius) Ltd.

India is the largest trading partner of Mauritius. Since 2007, India has been the biggest exporter of goods and services to the country. In the financial year 2014-2015, India shipped goods worth $1.9 billion to Mauritius and imported goods worth $21.19 million from the island nation.