India-Mauritius Economic Ties: Navigating Challenges Amidst Global Instability
Mauritius Prime Minister Navinchandra Ramgoolam highlights the economic impact of tariffs and trade wars on India at the Mauritius-India Business Conclave. He underscores India's vital role in Mauritius's development and emphasizes the importance of bilateral ties amidst global economic instability. Both countries aim to boost trade through CECPA initiatives.
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At the Mauritius-India Business Conclave, Prime Minister Navinchandra Ramgoolam outlined the severe economic repercussions that punitive tariffs and ongoing trade wars are having on India. He stressed that rising protectionist measures, supply disruptions, and climate shocks pose multiple risks.
Ramgoolam emphasized that India has been a reliable partner in Mauritius's socio-economic growth since independence, offering steadfast support. The conference was organized by the Federation of Indian Chamber of Commerce and Industry alongside India's Ministry of External Affairs.
Mauritius views India as a key trading partner, and since the CECPA's implementation, bilateral trade has grown, although it heavily favors India. Ramgoolam hopes to mitigate this imbalance by boosting exports of financial services and tourism, and enhancing cooperation between India, Africa, and Mauritius.
(With inputs from agencies.)
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