By
Vishal Bhidu
Deputy Chief Minister of Maharashtra Shri Devendra Fadnavis was recently in Mauritius where he had meetings with Prime Minister Pravind Jugnauth and Head State HE Prithiviraj Roopun as well as several stakeholders across business and cultural spheres. One of the major highlights of the CM’s State Visit is the Mauritius-Maharashtra Business Forum that was held last week in the presence of Indian High Commissioner Her Excellency Shrimati Nandini K Singla.
During the Business Forum, a Memorandum of Understanding (MoU) was inked between the Economic Development Board (EDB) and the Maharashtra Industrial Development Corporation (MIDC) on April 28. The agreement aimed to spur investment and trade between Mauritius and India in the presence of signatories CEO Ken Poonoosamy and MIDC’s CEO Vipin Sharma.
During the event, Deputy CM Shri Devendra Fadnavis stressed the collaboration taking place between the State of Maharashtra and Mauritius, “With the Maharashtra Development Cooperation and the EDB, I believe a new ecosystem will start for investment in Mauritius and Maharashtra. This must be a two-way collaboration where businesses in Mauritius can invest in Maharashtra. Similarly, Maharashtra businesses also have an excellent opportunity to invest in various sectors in Mauritius.”
The Deputy CM recalled historical ties taking place between both nations and the shared future with the signing of the MoU heralding into a new chapter charted in history, and in particular, a new relationship forged at the sub-national level between Maharashtra and Mauritius.
Present at the event Finance Minister Dr Renganaden Padayachy laid stress on the opportunities offered by Mauritius to investors hailing from Maharashtra and the island’s assets. “Mauritius can offer significant benefits to the state of Maharashtra. We enjoy an outstanding reputation for macroeconomic, political, and social stability. International agencies regularly rank us first in Africa. Mauritius offers predictability, safety, and security to investors, which are key considerations.”
He added, “Over 100 Indian companies across various sectors such as agro-industry and manufacturing tourism, real estate, financial services, health care, and education have set up projects in Mauritius.”
The Finance Minister also spoke on the preferential market access offered by Comprehensive Economic Cooperation and Partnership Agreement (CECPA), the first trade agreement signed by India with a country in Africa, effective April 1, 2021.
Maharashtra is considered to be one of the leading states in India generating USD 420 billion in GDP where in 2022 it contributed towards one-sixth of GDP to India.
The state visit came in the context of the Maharashtra Day on May 1 where the Deputy Chief Minister attended the unveiling of the statue of Chhatrapati Shivaji Maharaj by Mauritius PM Pravind Jugnauth. Fadnavis handed a cheque of around Rs 40 million accounting for Rs 8 crores in terms of Mauritius currency as a donation of the Maharastra Government pertaining to the extension of the Maharashtra Bhavan while announcing 10 scholarships to students from the island.
Apart from them, he also interacted with and addressed eminent people in the business sector and captains of the industry at the Mauritius-Maharashtra Business Forum.
