India, Mauritius Ink Economic Deal Boosting India's Investment In Island Nation - Minister

India, Mauritius Ink Economic Deal Boosting India's Investment in Island Nation - Minister

NEW DELHI (UrduPoint News / Sputnik - 22nd February, 2021) India and Mauritius have signed an agreement on comprehensive economic cooperation and partnership that will turn the African island nation into the center of India's investment in the region, Indian Minister of External Affairs Subrahmanyam Jaishankar said on Monday.

The agreement was reached during Jaishankar's official visit to the African country as part of his two-nation tour, which started last week. On Saturday, the Indian minister paid a two-day visit to the Maldives.

"India is privileged to have entered into a Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with Mauritius. This Agreement is India's first-such Agreement with an African country as noted by the Prime Minister [of Mauritius Pravind Jugnauth].

It will provide a timely boost for the revival of our post-covid economies and also enable Indian investors to use Mauritius as a launch-pad for business expansion into continental Africa helping the prospect of Mauritius emerging as a 'hub of Africa,'" Jaishankar was quoted as saying by the Indian ministry in a statement.

The newly-inked agreement will allow Mauritius to export its products, including frozen fish, biscuits, fresh fruits, juices, mineral water, soaps, bags, medical and surgical equipment, as well as apparel, to the Indian market of over a billion people.

The sides also signed a number of other agreements, including one on providing a $100-million loan to the African nation aimed at procuring defense assets from India.