Bholah undertook an ‘India Business Mission’ from March 14 to March 23 covering New Delhi, Chennai, Hyderabad, and Mumbai.
Speaking to ET in New Delhi the Minister urged investors and companies in India to set up their office in Mauritius to operate in Africa. “Mauritius is part of several regional groupings in Africa. We have strong understanding of African markets, resources and political systems and can guide Indian investors about investing in Africa.”
An company can directly invest in an African country. However, there is no guarantee if that country changes the law, and there could be a threat to assets and investments.
Routing the investment through Mauritius ensures the safety of the investment due to the trade agreements with various African countries, the Minister said.
Leveraging Mauritius’ expertise in finance and its established networks, Mauritius aims to explore avenues for enhancing investment flows into Africa, thereby contributing to the economic development of the region.Bholah stated, “Mauritius and India share deep-rooted cultural and diplomatic ties, spanning generations, and the Mauritius International Financial Centre (IFC) played a pivotal role in India’s growth during the late 90s and early 2000s, continuing to serve as a key jurisdiction for structuring foreign investment into India. It remains complementary to initiatives like GIFT City and other Indian IFCs. This multi-city visit highlights the potential for collaboration, innovation, and prosperity between our nations.”“Through joint efforts, we aspire to unlock novel opportunities in investment, trade, sustainable financing, and technological advancement. It serves as a platform to showcase the strengths of the Mauritian IFC and affirm our steadfast commitment to facilitating foreign investment.”
The mission aimed to facilitate elevated dialogues delving into prospective partnerships in key areas such as financial services, IT, and private markets, with a specific emphasis on discerning synergies and crafting frameworks for mutually advantageous cooperation. Aligning with the overarching goal of fostering shared prosperity, the delegation will further explore opportunities to reinforce the India-Africa Corridor.
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