In a significant step towards enhancing India–Mauritius economic cooperation, the Indian Business Council (IBC) and the Federation of Indian Chambers of Commerce and Industry (FICCI) signed a landmark Memorandum of Understanding (MoU) at the High Commission of India in Ebene, expected to deepen economic integration between both nations further while at the same time, a fostering long-term, mutually beneficial cooperation.
The event was held in the presence of Minister of Financial Services and Economic Planning, Dr. the Hon. Mrs. Jyoti Jeetun, High Commissioner of India His Excellency Shri Anurag Srivastava, that saw the presence of senior government officials, prominent business leaders, and members of the Indian diaspora. Around 100 participants were present at the event, reflecting the growing interest and enthusiasm surrounding the India–Mauritius economic partnership.
In her address, Minister Jeetun emphasized the importance of strengthening bilateral economic collaboration in the context of an evolving global economic order. She acknowledged that deepening India–Mauritius ties is essential for building economies that are resilient, inclusive, and future-ready. The Minister appreciated the role played by Indian businesses in supporting Mauritius’ economic development while at the same time stressing the value of initiatives that encourage sustained partnership and investment.
In his keynote remarks, High Commissioner His Excellency Anurag Srivastava described the MoU as a union that holds great potential and promise, stressing the need for it to evolve into a lively partnership through sustained commercial engagement and structured dialogue.
He underscored the strong alignment between Indian capabilities and Mauritius’ national priorities, particularly in light of the recently announced Mauritius Budget and strategic plan, which focus on green growth, digital transformation, SME development, and ensuring food, health, and energy security.
The High Commissioner emphasised the expanding institutional framework underpinning the India–Mauritius economic partnership, referred to the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) signed in 2021, considered as a milestone, while noting the growing financial interoperability between the two countries, including the rollout of the RuPay card and Unified Payments Interface (UPI).
He further recalled the announcement made by PM Shri Narendra Modi regarding the establishment of a local currency settlement mechanism between the Reserve Bank of India and the Bank of Mauritius, which will allow trade transactions to be settled directly in INR and MUR.
The IBC President, Mr. Jayasankar Seshadri, made the following comments: “The partnership taking place between the IBC, Mauritius, and FICCI is built on a foundation of trust and a shared understanding that when businesses flourish, nations prosper. We recognise the unique strengths each of our countries brings to the table. As part of efforts in leveraging these complementary strengths, we can unlock tremendous potential and create opportunities that would be impossible to achieve in isolation.”
On the other hand, the leader of the FICCI Business Delegation and CEO of International Business, Captain Agri Machinery Exim LLP, Mr. Rajiv Wahi, described Mauritius as one of Africa’s most economically advanced nations, in terms of a thriving financial ecosystem and offering preferential trade agreements spanning across regional and continental African markets. He also extended an invitation to the IBC Mauritius and SADC partners to participate in the 4th edition of FICCI LEADS 2025, scheduled for September 10-11 in New Delhi.
Founded in 1927, FICCI is considered to be one of India’s oldest and largest apex business chambers, representing over 250,000 companies across sectors – from large corporates and SMEs to multinational firms. As part of its broader Africa outreach, FICCI has led a 16-member multi-sectoral business delegation to Mauritius from July 26–29, 2025.
During their visit, the delegation held productive engagements with government institutions, the Economic Development Board (EDB), business chambers, and industry stakeholders in key sectors including healthcare, agriculture, infrastructure, education, and biotechnology.
Inputs: Indian High Commission/ GIS/IBC
Image credits: GIS
