'Mauritius will help Indian investors tap U.S. market'

By Our Special Correspondent

CHENNAI, JAN. 20. The Prime Minister of Mauritius, Sir Anerood Jugnauth, has invited Indian entrepreneurs to set up units in his country which will provide them an opening to the U.S. market on a duty-free and quota-free basis.

Addressing the Associated Chamber of Commerce and Industry (ASSOCHAM) here today, he said Mauritius was entitled to trade preferences in the sub-Sahara African countries under the African Growth and Opportunity Act, which would help foreign investors to tap the U.S market.

Mauritius was also enjoying preferential access to the European Union Market under the Cotonou Agreement, which had succeeded the Lome Convention. Being strategically located in the Indian Ocean, Mauritius formed part of two regional blocks, COMESA and SADC, which had provided preferential access to a large number of countries in southern and eastern Africa.

The Mauritius Government recently set up a Board of Investment which would set a framework for simpler procedures to remove bureaucratic bottlenecks. The board would act as a one- stop shop for all investors. Welcoming Indian entrepreneurs to set up new spinning and weaving plants, the Prime Minister said jewellery, pharmaceuticals, light engineering, leather products, printing, electrical products and electronics and Information Technology were other prospective fields.

Referring to Information Technology, Sir Anerood said Indian companies could use Mauritius as a base for software development activities, data-hubs, call centres and network management centres.

The ASSOCHAM president, Mr. Shekhar Bajaj, said there was a greater scope for increasing Indian exports to Mauritius. Since mid-1990s India had made gains in increasing exports of glass, ceramics, cosmetics leather carpets and gems but the value of exports had declined in paper, wood products, chemicals, iron and steel.

As Mauritius was an excellent entry point for a much larger market in Southern Africa as well as North America and Europe, Sir Anerood's visit would help to work out mutually beneficial agreements.

Mr.Raghu Mody, alternate president, ASSOCHAM, said Mauritius would be an ideal base for targeting European and African markets.

Later, speaking at a function at the Madras University, where the degree of Doctor of Laws (Honoris Causa) was conferred on him, Sir Anerood said Mauritius had much to benefit from Tamil Nadu's ``impressive experience'' in the I.T field.

Mauritius was launching its `I.T-Free Zone' destined to attract investments and knowhow from world class experts. It was offering fiscal and non-fiscal incentive packages, to encourage I.T firms to start business there. ``We have already offered a permanent residence scheme for entrepreneurs wishing to settle down in our country.''

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