Mauritian PM Calls for Indian Investment to Boost Economic Growth

Mauritian Prime Minister Navinchandra Ramgoolam has urged Indian investors to explore opportunities in Mauritius, deeming their involvement vital for economic development. He introduced reforms aimed at making Mauritius business-friendly and highlighted the role of the Indian diaspora. Additionally, Modi received a prestigious honor, marking the strength of India-Mauritius relations.

The Prime Minister of Mauritius, Navinchandra Ramgoolam, urged Indian investors to consider opportunities in Mauritius, stressing their essential role in the nation’s economic development. Speaking at a community event attended by Indian Prime Minister Narendra Modi, Ramgoolam recognized the substantial contributions of the Indian diaspora across various sectors including construction, tourism, healthcare, and financial services.

With a large global diaspora of approximately 35 million, excelling in fields such as technology and finance, India remains a critical partner for Mauritius. Ramgoolam pointed out, “Your participation is vital for the economic growth of Mauritius. When you come here, you enrich our country as well,” highlighting his desire for increased Indian investment in Mauritius from foreign investors.

To facilitate this, Ramgoolam presented a series of reforms aimed at transforming Mauritius into a business-friendly environment. Plans include reducing bureaucracy and eliminating red tape, alongside the establishment of an arbitration center aimed at expediting the resolution of commercial disputes. He noted, “We are looking forward to making businesses easier to do, less bureaucracy, less red tape.”

Highlighting the importance of predictability and the rule of law for investors, Ramgoolam expressed the need for international expertise, particularly from India, to bolster the nation’s judicial and business frameworks. He stated, “We’re going to lessen the commercial cost so that disputes can be resolved quickly,” signaling a commitment to enhancing standards.

The prime minister’s call for investment coincided with the announcement of the Grand Commander of the Order of the Star and Key of the Indian Ocean awarded to Narendra Modi during his two-day State visit. This accolade honors Modi as the first Indian and the fifth global recipient, celebrating his role in strengthening the ties between India and Mauritius.

Modi expressed his appreciation for this honor, asserting the historical and cultural connections shared by both nations. He reaffirmed India’s commitment to further enhancing bilateral cooperation, stating, “This is not just an honor for me; it is an honor for the historic bond between India and Mauritius.”

The event brought together over 3,500 attendees, showcasing the importance of India-Mauritius relations and the mutual benefits of collaboration in the region.

In conclusion, Prime Minister Navinchandra Ramgoolam of Mauritius has called for enhanced Indian investment to foster economic growth, emphasizing the indispensable role of the Indian diaspora. Key reforms outlined aim to simplify business operations in Mauritius, alongside a framework for international expertise to elevate judicial standards. The recent honor bestowed upon PM Narendra Modi symbolizes the deep-rooted relationships between both nations, reinforcing the commitment to mutual development and cooperation in the Indian Ocean region.

Original Source: indianexpress.com