India-Mauritius Strengthen Ties with Enhanced Strategic Partnership

 India-Mauritius Strengthen Ties with Enhanced Strategic Partnership

During the visit of India's Prime Minister, India and Mauritius unveiled a joint vision for an Enhanced Strategic Partnership and signed eight agreements to strengthen cooperation across various sectors.

Prime Minister Narendra Modi was also conferred with Mauritius' highest civilian honor, acknowledging his significant contributions to the India-Mauritius relationship.

Key Outcomes:

• Cross-Border Transactions in Local Currency: An agreement was signed to establish a framework promoting the use of local currencies for cross-border transactions.

• MAHASAGAR Initiative: India introduced a new vision for the Global South, named MAHASAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions). This initiative focuses on trade for development, capacity-building for sustainable growth, and mutual security for a shared future.

• Other Agreements: An agreement was signed for the sharing of maritime data, along with joint efforts to combat money laundering, among other initiatives.

India-Mauritius Relations:

• Diplomatic Relations: India established diplomatic ties with Mauritius in 1948.

• Trade: India enjoys a trade surplus with Mauritius, with total trade amounting to USD 554.19 million in 2022-23.

• Economic Cooperation: The Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius was signed in 2021.

• Foreign Direct Investment (FDI): Mauritius was the second-largest source of FDI into India for FY 2023-24, after Singapore.

• Cultural and People-to-People Ties: People of Indian origin make up nearly 70% of the population in Mauritius. The country also hosts the World Hindi Secretariat, which promotes the Hindi language globally.

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