The Mauritius Chamber of Commerce and Industry (MCCI) and the PHD Chamber of Commerce and Industry (PHDCCI) from India have signed a memorandum of understanding on November 27, 2023.
This collaborative effort, stemming from a successful meeting at the B20 Summit in India last August, is poised to stimulate trade and investment between India and Mauritius.
Going beyond a mere formality, the agreement signifies a determined commitment to deepen economic ties and explore new areas of cooperation.
From 26 to 29 November 2023, a 12-member delegation from the PHDCCI, led by Vijay Sheoran, Co-Chair, International Affairs Committee for Europe & CIS, PHDCCI is exploring business opportunities in Mauritius.
This business trip has been facilitated by the Economic Development Board of Mauritius (EDB). The delegation spans sectors such as medicine, corporate, and fiscal affairs, representing a mix of large enterprises, SMEs, and innovative startups.
In her welcoming remarks, Namita Jagarnath Hardowar, President of the MCCI, highlighted the significance of this partnership as a key opportunity to strengthen economic ties and facilitate collaboration between businesses in both countries, opening new avenues for growth between India and Mauritius.
Vijay Sheoran expressed satisfaction with the realisation of this initiative, underlining PHDCCI's eagerness to explore business opportunities in Mauritius.
He indicated PHDCCI's interest in looking towards Africa through the lens of Mauritius, adding that both the MCCI and the PHDCCI are well-equipped to facilitate business connections, promote trade, and foster successful partnerships.
Dr Drishtysingh Ramdenee, Secretary General of MCCI, presented commercial opportunities between India and Mauritius, emphasising the need to operationalize CECPA.
He detailed a few investment opportunities in Mauritius and called for collaboration to implement significant projects, while emphasising the necessity of establishing structured distribution channels to maximise these opportunities.
This MoU marks a significant milestone in the MCCI’s collaborative efforts to promote trade, investment, and cooperation while focusing on creating a conducive framework for commercial exchanges and new economic prospects between India and Mauritius.
From Left to Right: Dr Drishtysingh Ramdenee,Secretary General, MCCI, Mrs Namita Jagarnath Hardowar, President, MCCI, Mr Vijay Sheoran, Leader of the Delegation Co-Chair, International Affairs Committee for Europe & CIS, PHDCCI and Mr Niraj, Director – International Affairs PHDCCI.