logo
Mauritius can be used as a gateway by Indian investors for Africa, says country's Foreign Minister Dhananjay Ramful

Mauritius can be used as a gateway by Indian investors for Africa, says country's Foreign Minister Dhananjay Ramful

Zawya12-03-2025

Port Louis: Noting that Mauritius has a special bond with India and a very long historical relationship, country's Foreign Affairs Minister Dhananjay Ramful has said that preparations are "unique and special" for Prime Minister Narendra Modi's two-day visit to the country and Indian investors can use Mauritius "as a gateway to Africa".
In an interview with ANI, Dhananjay Ramful, the Mauritius Minister of Foreign Affairs, Regional Integration, and International Trade, said India has provided extensive assistance in completing development projects in his country.
He said the two countries have Comprehensive Economic Cooperation and Partnership Agreement (CECPA) and Mauritius looks forward to making this trade agreement more purposeful and useful.
Mauritius and India signed a Comprehensive Economic Cooperation and Partnership Agreement (CECPA) on February 22, 2021, during the visit of the External Affairs Minister S Jaishankar. It came into force on April 1, 2021. The India-Mauritius CECPA is the first trade agreement signed by India with an African country.
Dhananjay Ramful said India and Mauritius are reorienting their relationship and talking about a strategic partnership.
"The preparations are unique and special given that we have a very special bond with India. This is a very long historical relationship that we are talking about. It goes back to 1948, and since then, this relationship has strengthened over the years, and we have had various exchanges. In the meantime, we are talking about cultural exchanges, (improvement in) economic and trade relationship. Now we are reorienting that relationship. We are talking about a strategic partnership nowadays between Mauritius and India," he said.
"India has been a partner in development, all the way. India has given us a lot of assistance in terms of many infrastructural projects. This short interview will not be enough for the list. We have the Metro project, you have the new Supreme Court building, you have the new ENT Hospital... India has constructed a runway - so many projects have been implemented in Mauritius. India has stood shoulder to shoulder with Mauritius in completing those projects," he added.
Dhananjay Ramful said Africa is rising and Mauritius can be used as a platform, a gateway to invest in the countries in the continent.
"Now, in terms of economic trade, we also have CECPA, the Comprehensive Economic Partnership Agreement with India. We are looking forward to make this trade agreement more purposeful and useful. The message I am giving to Indian investors is that we have to look at it as Mauritius being a gateway to Africa," he said.
"Africa has 1.3 billion consumers. Africa is rising and Mauritius can be used as a platform, a gateway to invest in Africa - bearing in mind that Mauritius is a member of various organisations. All these institutions are there for Indian investors to make purposeful meaning of the free trade agreement we have with India, and to invest in various sectors - pharmaceutical sector, education. There are various sectors where Indian investors can come to invest," he added.
PM Modi will pay a State Visit to Mauritius on March 11-12 to attend the National Day celebrations of Mauritius on 12th March as the Chief Guest. A contingent of Indian Defence Forces will participate in the celebrations along with a ship from the Indian Navy. Prime Minister last visited Mauritius in 2015.
During the visit, Prime Minister will call on the President of Mauritius, meet the Prime Minister, and hold meetings with senior dignitaries and leaders of political parties in Mauritius. Prime Minister will also interact with the members of the Indian-origin community, and inaugurate the Civil Service College and the Area Health Centre, both built with India's grant assistance. A number of Memorandums of Understanding (MoUs) will be exchanged during the visit.
© Muscat Media Group Provided by SyndiGate Media Inc. (Syndigate.info).

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump signs proclamation banning citizens from 12 countries
Trump signs proclamation banning citizens from 12 countries

Sharjah 24

time3 hours ago

  • Sharjah 24

Trump signs proclamation banning citizens from 12 countries

Part of broader immigration crackdown The directive is part of Trump's broader immigration agenda in his second term, which includes mass deportations, restrictions on student visas, and removal of suspected gang members—especially Venezuelans—back to their home country. Countries affected by the travel ban The ban fully restricts entry from the following 12 countries: Afghanistan, Myanmar, Chad, Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen. In addition, Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and Venezuela face partial travel restrictions. Trump: Security first In a video posted on X, Trump said: 'We will not allow people to enter our country who wish to do us harm.' He noted that the list could be revised and that new countries might be added. The order goes into effect on June 9, 2025, at 12:01 a.m. EDT. Visas issued before that date will remain valid. African Union expresses concern The African Union Commission raised concerns about the impact of the travel ban on diplomacy, trade, and educational exchanges. In a statement, it called on the US to engage in 'constructive dialogue' with the affected nations and adopt a more consultative approach. Background: Trump's previous travel bans During his first term (2017–2021), Trump imposed a travel ban on seven Muslim-majority countries—a policy that faced legal battles but was eventually upheld by the Supreme Court in 2018. His successor, Joe Biden, repealed the ban in 2021, calling it 'a stain on our national conscience.' Reasons cited for ban Trump said the most heavily restricted countries harbor a strong terrorist presence, lack proper identity verification systems, and have poor visa record-keeping and high overstay rates. 'We cannot have open migration from any country where we cannot safely and reliably vet and screen those who seek to enter,' he said. He referenced a recent incident in Colorado involving a gasoline bomb attack by an Egyptian national with an expired visa, although Egypt is not on the current ban list. Mixed international reactions Somalia pledged to work with the U.S. to address concerns, reaffirming its strong ties with Washington. In contrast, Venezuelan Interior Minister Diosdado Cabello criticized the ban, calling the US government fascist and warning Venezuelans of the risks of staying in the U.S. Other countries, including Afghanistan and Myanmar, did not immediately respond to the policy. Personal Impact: Programmes and dreams disrupted The ban has already begun to affect individuals. A 31-year-old teacher from Myanmar, accepted into a U.S. exchange programme, said her plans are now uncertain. 'It is not easy to apply nor get accepted,' she said, expressing frustration at the lack of updates after the ban announcement. Policy roots and political strategy Trump previewed this expanded travel ban during a 2023 campaign speech, targeting several regions including Gaza, Libya, and Somalia. He also signed an executive order in January requiring stricter vetting for all foreign nationals entering the US Initial report and media coverage The new travel restrictions were first reported by CBS News, while Reuters had earlier indicated that such measures were under consideration for dozens of countries.

Fighter pilot takes next giant step for India's space plans
Fighter pilot takes next giant step for India's space plans

Khaleej Times

time3 hours ago

  • Khaleej Times

Fighter pilot takes next giant step for India's space plans

Astronaut Shubhanshu Shukla blasts off into space next week as the first Indian to join the International Space Station (ISS), bearing with him New Delhi's dreams of its own manned space flight. An airforce fighter pilot, 39-year-old Shukla is joining a four-crew mission launching from the United States with private company Axiom Space, aboard a SpaceX Crew Dragon capsule. He will become the first Indian to join the ISS, and only the second ever in orbit -- an achievement that the world's most populous nation hopes will be a stepping stone for its own human flight. "I truly believe that even though, as an individual, I am travelling to space, this is the journey of 1.4 billion people," Shukla was quoted as saying by The Hindu newspaper this year. Shukla said he hopes to "ignite the curiosity of an entire generation in my country", and "drive the innovation that will make many such projects possible for us in the future". The airforce group captain -- equivalent to an army colonel or navy captain -- will pilot the commercial mission slated to launch June 10 from the Kennedy Space Center in Florida, a joint team between NASA and ISRO, the Indian Space Research Organisation. 'New era' India's Department of Space calls it a "defining chapter" in its ambitions, naming Shukla as "among the top contenders" for its maiden human spaceflight mission, Gaganyaan, "sky craft" in Hindi, scheduled for launch in 2027. "His journey is more than just a flight -- it's a signal that India is stepping boldly into a new era of space exploration," the Department of Space said ahead of the launch. New Delhi has paid more than $60 million for the mission, according to Indian media reports. Prime Minister Narendra Modi has announced plans to send a man to the Moon by 2040. India's ISRO said in May that it planned to launch an uncrewed orbital mission later this year, before its first human spaceflight in early 2027. Shukla's voyage comes four decades after Indian astronaut Rakesh Sharma joined a Russian Soyuz spacecraft in 1984. "What sets Shukla's mission apart is its strategic importance," the department added. "Unlike the symbolic undertones of India's first human spaceflight, this time the focus is on operational readiness and global integration." Shukla also trained in Russia, in 2020 along with three other astronaut hopefuls, at the Yuri Gagarin Cosmonaut Training Center -- before further training at ISRO's centre in the southern city of Bengaluru. He has said the journey aboard the Axiom Mission 4 -- and then the expected 14 days on the ISS -- will provide "invaluable" lessons to bring back home. - Space yoga - Shukla will be led by mission commander Peggy Whitson, a former NASA astronaut, and joined by European Space Agency project astronaut Slawosz Uznanski-Wisniewski of Poland, and Tibor Kapu of Hungary. The son of a government ministry official, from Lucknow in the northern state of Uttar Pradesh, Shukla is a veteran fighter pilot experienced in flying Russian Sukhoi and MiG jets. He has promised to perform yoga poses in the ISS. If he is unable to fly on Tuesday, fellow airforce pilot Group Captain Prasanth Balakrishnan Nair, 48, is expected to take his place. India has flexed its ambitions in the last decade with its space programme growing considerably in size and momentum, matching the achievements of established powers at a much cheaper price tag. In August 2023, it became just the fourth nation to land an unmanned craft on the Moon after Russia, the United States and China. Waiting at home will be Shukla's family, including his wife and son. "I've been having goosebumps by just thinking that soon my brother will be in space," his older sister Suchi, a school teacher, told the Times of India newspaper.

A sordid tale of the Blackstone IPO and a jailed NRI private bankster!
A sordid tale of the Blackstone IPO and a jailed NRI private bankster!

Arabian Post

time3 hours ago

  • Arabian Post

A sordid tale of the Blackstone IPO and a jailed NRI private bankster!

Matein Khalid I have had a neurological soft corner for Wall Street's alternative asset manager stocks ever since I resisted the come hither importunings of multiple Morgan Stanley (MS) managing directors before the firm sold its private wealth division in the DIFC to Credit Suisse. Everyone of these MS honchos wanted me to subscribe to the Blackstone IPO in the summer of 2007 at $32. They assured me that the biggest institutional investors in the UAE had all subscribed to the IPO and I was even excluded from a dinner with Stephen Schwartzmann, Blacktone's founder and chairman, since I refused to give MS an order for a $50 million IPO bid. By the summer of 2007, I was convinced that the world was headed into a traumatic global recession and even published an article in English which would have saved my fellow Dubai investors billions of dollars had they bothered to read it for free in the Khaleej Times as far back as January 2007. This article accurately predicted the global financial meltdown a year before it happened and is uploaded above. ADVERTISEMENT Naturally, these Morgan Stanley private bankers despite their fancy titles of MD, Imperial Wizards, King of Kings and Chief Concubine were clueless about the nuances of the global capital markets. I have learnt the hard way that the private banking and wealth business in the Middle East is really the blind leading the blind to the slaughterhouse, invariably with high octane leverage and absurdly high fees for the privileges of helping you gut your financial net-worth in the capital markets they barely understand. I sealed my unpopularity with Morgan Stanely's pinstriped bureaucrats in Dubai when I wrote successive articles, listing myriad reasons why I wanted to short both Morgan Stanley and Blackstone at 32. History or a cursory look at your smartphone will record that MS almost failed in the post Lehman Wall Street panic and the Blackstone IPO plunged from 32 to 4. To compound the insult that Dubai's top NRI investors faced as they haemorrhaged money on the advice of the MS clowns, the top Indian broker on the MS bench (Manoj Prasad) was jailed for fraud, money laundering and trying to bribe a CBI officer in India. So much for Wall Street/Swiss due diligence/ethics when it comes time to fleece the leveraged NRI lambs in the Gulf. My readers know I wrote successive columns in the UAE/British media recommending investors buy Blackstone (BX) shares at 10-12 when the distribution yield was 9%. I even recommended in writing to the chairman of the royal investment office where I was CIO not to allocate $25 million to Abraaj Capital for a board seat that meant squat at 3.5X book value when he could invest in Blackstone at $10 a share, way below book value. That $25 million went to money heaven when Abraaj failed in 2018 after Arif Naqvi's criminal fraud. Blackstone shares I recommended rose from $10 in 2010 to as high as $200. So that $25 million in Abraaj's eternal money heaven would be valued at $500 million if my poor chairman who had never heard of Steve Schwarzman but Magu, our Group CFO, a Karachi accountant, was dazzled by the intellectual brilliance of Arif Naqvi, the Gulf media's financier of the millennium. Moral of the story? If you think Wharton is expensive, try ignorance! Blackstone is now the planet's biggest alt asset manager with $1.2 trillion AUM and is valued at $167 billion on the NYSE. I am a nervous long at $136 since I believe the US private credit market will be gutted in a recession that is now inevitable in Q3, the reason why I went long up the wazoo on TLT at 84 as I expect JayPo to capitulate on rate cuts at the September FOMC. I want to exit my BX long via a covered call strategy before July 4th, our Independence Day. I am pretty sure I will be able to buy BX below 100 when the macro wolf finally swallows Grandma Goldilocks. We saw this movie before in the autumn of 2008 ADVERTISEMENT Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store