FTA Between India, Mauritius Nears Finalisation

Trade & Policy

FTA Between India, Mauritius Nears Finalisation

The proposed free trade agreement between India and Mauritius is nearing finalisation as both the sides have concluded the negotiations for the pact, the commerce ministry said. The proposed India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) seeks to mutually benefit both the countries in the area of trade in goods and services, it said in a statement. Negotiations were held across several sectors including goods, services, rules of origin, technical barriers to trade and sanitary and phyto-sanitary measures, trade remedies and dispute settlement. Mauritius was the second top source of foreign direct investment (FDI) into India in 2018-19. India received US$ 8 billion (about Rs 56,000 crore) foreign inflows from the country. The bilateral trade between the countries increased marginally to US$ 1.2 billion in 2018-19 from US$ 1.1 billion in 2017-18. India exports petroleum products, pharmaceuticals, cereals, cotton and electrical machinery, apparel and clothing accessories to Mauritius. The island nation's exports to India include iron and steel, pearls, precious/semi-precious stones and optical, photographic and precision instruments.