Two friendly nations India & Mauritius have signed CECPA. This was first ever India signed trade agreement with any African country. It was signed in the presence of Mauritius Prime Minister, Pravind Jugnauth and Indian external affairs minister, Subrahmanyam Jaishankar. The Comprehensive agreement was approved by the Union Cabinet of India on 17th February 2021. It will come into effect from March, 2021.
- As per the limited agreement, India will be given preferential access to the markets in Mauritius and vice versa.
- India will get access to 310 products on the flip side, Mauritius will get access to 615 products.
- Under this agreement, India will also get access to 115 sub-sectors in the 11 broad services sectors.
- India will get access to goods like food and beverages, farm products, textiles and garments etc while Mauritius will get access to frozen fish, biscuits, speciality sugar, fresh fruits, juices
- These sectors include financial services, software, and telecommunications.
- CECPA also allows unrestricted movement of skilled professionals.
This is the first bilateral trade agreement after it launched “Atma-Nirbhar Bharat”. Also, this was the first ever agreement that India signed with any African country where China has its economic dominance. Thus, this pact becomes significant as a counter to China. Further, the agreement will set stage for more such pacts with other African countries.
Bilateral Trade Relation
India and Mauritius Bilateral trade have increased from US$ 207 million in FY 2005-06 to US$ 690 million in the FY 2020. This accounts for 233 per cent increase in the trade. Also, India’s exports to Mauritius have increased from US$ 199 million to US$ 662 million in the same period. It accounts for 232 per cent increase. On the flip side, Mauritius exports to India from have just increased from US$ 7 million to almost US$ 28 million.
India-Mauritius signed Limited Trade Pact agreement India-Mauritius signed Limited Trade Pact agreement