Invest India inks deal with Mauritian board

February 8th, 2012 - 6:16 pm ICT by IANS  

New Delhi, Feb 8 (IANS) Invest India, a joint venture of the government and the Federation of Indian Chambers of Commerce and Industry (FICCI), Wednesday signed an agreement with the Board of Investment of Mauritius to facilitate a two-way flow of investments.

According to the terms of the agreement, the two organisations would “cooperate in the promotion of entrepreneurship in their respective countries and identify and promote specific investment projects.”

The two organisations have also agreed to exchange information on investment procedures, entrepreneurial resources, legal framework and investment opportunities.

Invest India managing director Anupam Srivastava and his counterpart at the Board of Investment of Mauritius, Ken Poonoosamy, signed the Memorandum of Understanding (MoU) here.

Invest India, a joint venture between the ministry of commerce and industry, state governments and FICCI, has been set up to facilitate the inflow of investments in India.

“For facilitation of investments, the MoU enjoins on the two parties to provide informational assistance to companies during the pre-investment stage, identify potential business partners and assist in the selection and negotiation process and assist during project implementation and enable the processing of relevant documentation within a reduced time frame,” FICCI said in a statement.

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