India seeks Mauritius investment in key sectors

February 7th, 2012 - 8:47 pm ICT by IANS  

Navinchandra Ramgoolam New Delhi, Feb 7 (IANS) India Tuesday urged Mauritius, the largest source of foreign direct investment (FDI), to further boost investments in in manufacturing, agro-processing, information technology and pharma sectors.

Commerce and Industry Minister Anand Sharma held bilateral talks with his Mauritius counterpart Sayyad Abd-Al-Cader Sayed-Hossen aimed at further strengthening economic ties.

“Our economic and commercial relations are expanding. But there is still a lot of untapped potential that needs to be exploited, especially in sectors like agro-processing, manufacturing, pharmaceutical, medical equipment, seafood, automobile parts, tourism and hospitality, IT and IT-enabled services,” Sharma said after the meeting.

Mauritius Prime Minister Navinchandra Ramgoolam arrived here Tuesday on a six-day official visit to India.

He is accompanied by senior ministers and a large business delegation.

Sayed-Hossen, who is also a member of the delegation, expressed interest in “collaboration for skill development in gems and jewellery sector and deeper support from India for developing capacities in consumer protection and metallurgy sector”, said an official statement released after the meeting.

Mauritius is the largest source of FDI in India. Between April 2000-November 2011, FDI inflows from Mauritius were $62.05 billion, which is 40.67 percent of the total FDI inflows during that period.

Indian investments in Mauritius were $13.56 million during April 2006-Dec 5, 2011. The country has been the largest exporter of goods and services to Mauritius since 2007.

Mauritius, a strategically located Indian Ocean island state where persons of Indian origin make up over 60 percent of the population, has been asking India to play a more active role in fighting piracy in the region as it impacted security, fishing and tourism.

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