Connect with us

India and Mauritius to hold next round of FTA talks

a view of New Delhi

l'eco

India and Mauritius to hold next round of FTA talks

India and Mauritius will hold the next round of negotiations from this
Wednesday for the proposed free trade agreement (FTA), which is aimed at
liberalising norms to boost two-way commerce and investments.

During
the deliberations, both the sides would discuss issues related to trade in
goods and services. In an FTA, two trading partners cut or eliminate duties on
majority of goods besides liberalising norms to promote services trade and
boost investments.

The
three-day talks for the agreement, which is officially dubbed as the
Comprehensive Economic Cooperation and Partnership Agreement (CECPA), will
start from Wednesday, an Indian government official said.

substantial benefit

According
to experts, India may not get a substantial benefit in the goods sector as
Mauritius is a small market, but services sectors such as IT and tourism hold
huge potential to enhance economic ties.

Interestingly,
Mauritius is also holding negotiations for a similar pact with China, with
which India has a huge trade deficit. The trade gap wsas $63 billion in
2017-18.

The
island nation is the top source of foreign direct investment (FDI) into India.
In 2017-18, India received $15.94 billion as compared to $15.73 billion in the
previous financial year.

The
bilateral trade between the countries increased to $1.1 billion in 2017-18
from $900 million in 2016-17. India exports petroleum products,
pharmaceuticals, cereals, cotton and electrical machinery, among others, to
Mauritius.

The island nation exports to New Delhi include iron and
steel, pearls and precious/semi-precious stones.

Source : Moneycontrol

To Top