Mauritius today wooed Indian investors to set up ventures in various potential sectors like tourism, manufacturing, food processing and promised them hassle-free environment to have an access to African countries.
Chandigarh: Mauritius today wooed Indian investors to set up ventures in various potential sectors like tourism, manufacturing, food processing and promised them hassle-free environment to have an access to African countries.
"Mauritius offers great opportunity to Indian business houses to make investment in different sectors like tourism, food processing, manufacturing like textile, light engineering goods, trading, pharmaceuticals ICT BPO and financial services.
"These are some of the sectors in Mauritius where Indian investors can make investments," Country Head of Board of Investment, Mauritius, Seewraj Nundlall told reporters here today.
By setting up their ventures in Mauritius, Indian corporates can have an access to African countries, he said.
High Commissioner of Mauritius to India Jagdishwar Gorburdhun said Mauritius offers good environment to investors to set up their businesses.
Nundlall said the government of Mauritius provides friendly, hassle free and highly competitive environment for companies to start their own business.
"Any investor can incorporate its company within a day and one can get occupational permit within 5-7 working days. And there is no minimum capital requirement and there is 15 per cent corporate tax," he further said.
Nundlall said the total imports from India by Mauritius was USD 2 billion in 2015 which comprised import of pharmaceutical products, rice, petroleum items.
Mauritius exports to India stood at USD 20 million, he said adding that it included medical devices, metal product, food items etc.
He said Mauritius has identified several items like tea, high-end garments and rum made from sugarcane as part of its effort to increase exports to India.
India Mauritius Trade and Cultural Friendship Forum President Pritpal Singh Pannu informed about India Mauritius Global Partnership Conference is being organised from July 24 till 27 in Mauritius in which 250-300 businessmen from India will participate.
Last month, the India-Mauritius Double Taxation Avoidance Convention was amended to introduce a levy to prevent investors using the island nation as a shelter to avoid levies.