20 January , 2022 Fdiindia
India-supported Solar, Housing Projects in Mauritius to Be Inaugurated by PM Modi and Mauritius PM Jugnauth
Prime Minister Narendra Modi and his Mauritius counterpart Pravind Kumar Jugnauth will jointly launch Solar Farm projects, a Social Housing Units project, and a Civil Service College developed using Indian support.
The inauguration will be done virtually and reiterates the strong trade relations between the two nations. The Solar PV Farm projects have a total capacity of 8 MW.
The Ministry of External Affairs has also said that an agreement to extend a $190 million line of credit to Mauritius for the Metro Express Project and other infrastructure ventures will also be exchanged.
In addition, a Memorandum of Understanding (MoU) will also be agreed upon for implementing small development projects.
Mauritius was the third-largest source of foreign direct investment (FDI) in India for 2020-21, with total FDI equity inflows touching $5.63 billion.
Mauritius’s cumulative FDI equity inflow into India between April 2000 and March 2021 was recorded at $148.35 billion, which was 28 percent of the total FDI inflows over this period.
Mauritius is currently host to many established Indian public sector enterprises. These companies have also undertaken various initiatives under the Corporate Social Responsibility (CSR) schemes.
Over the last five years, India has been one of the top trade partners of Mauritius. In 2020, India was third in terms of Mauritian imports and accounted for 10 percent of total imports.
Indian exports to Mauritius stood at $1.027 billion in 2018, $776 million in 2019, and $396 million in 2020. The amount of Mauritian exports to India for 2019 and 2020 were $24 million and $32 million, respectively.
In the defense field, Indian defense manufacturer Hindustan Aeronautics Limited (HAL) has signed a contract with the government of Mauritius for exporting the advanced version of its Advanced Light Helicopter (ALH Mark III).
This deal aligns with the Union government’s vision of augmenting defense exports to friendly foreign nations, and Mauritius is one of the primary nations under India’s ‘Neighborhood First’ policy.
The contract was signed by B. K. Tripathy, General Manager, Helicopter Division – HAL, and O. K. Dabidin, Secretary of Home Affairs, Prime Minister’s Office, Government of the Republic of Mauritius.
Mauritius currently operates the ALH and Dornier Do-228 aircraft made by HAL.