ÑDz©ÌåÓý¹ÙÍøÊ×Ò³

India-Mauritius free trade may benefit construction, infra
ECONOMY & POLICY

India-Mauritius free trade may benefit construction, infra

India and Mauritius signed a comprehensive economic cooperation and partnership agreement (CECPA) during the ongoing visit by External Affairs Minister S Jaishankar. Construction and transport figure in the long list of possible industries that may benefit.

Under the CECPA, India will provide preferential access to Mauritius in regards to several items like surgical equipment, medicine, and textile products that would cater to market requirements on both sides.

This is the first trade agreement signed by India with a country in Africa. The CECPA is a limited agreement, which will cover trade in goods, rules of origin, trade in services, technical barriers to trade (TBT), sanitary and phytosanitary (SPS) measures, dispute settlement, movement of natural persons, telecom, financial services, customs procedures and cooperation in other areas.

The trade agreement provides for an institutional mechanism to encourage and improve trade between the two countries. It will cover 310 export items for India, including foodstuff and beverages (80 lines), agricultural products (25 lines), textile and textile articles (27 lines), base metals and articles thereof (32 lines), electricals and electronic item (13 lines), plastics and chemicals (20 lines), wood and articles thereof (15 lines), and others. Mauritius will benefit from preferential market access into India for its 615 products, including frozen fish, speciality sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic drinks, soaps, bags, medical and surgical equipment, and apparel.


4th Indian Cement Review Conference 2021

17-18 March 


With regards to trade in services, Indian service providers will have access to around 115 sub-sectors from the 11 broad service sectors, such as professional services, computer related services, research and development (R&D), other business services, telecommunication, construction, distribution, education, environmental, financial, tourism and travel related, recreational, yoga, audio-visual services, and transport services.

India has offered around 95 sub-sectors from the 11 broad services sectors, including professional services, R&D, other business services, telecommunication, financial, distribution, higher education, environmental, health, tourism and travel-related services, and recreational and transport services.

Both the countries have also agreed to negotiate an Automatic Trigger Safeguard Mechanism (ATSM) for a limited number of highly sensitive products within two years of the agreement's signing.

: Technology, such as the proposed ATSM, may feature as a pivot in several segments.


Also read: DPIIT identifies 10 sectors to cut imports

Also read: L&T bags Mauritius metro rail contract

India and Mauritius signed a comprehensive economic cooperation and partnership agreement (CECPA) during the ongoing visit by External Affairs Minister S Jaishankar. Construction and transport figure in the long list of possible industries that may benefit. Under the CECPA, India will provide preferential access to Mauritius in regards to several items like surgical equipment, medicine, and textile products that would cater to market requirements on both sides. This is the first trade agreement signed by India with a country in Africa. The CECPA is a limited agreement, which will cover trade in goods, rules of origin, trade in services, technical barriers to trade (TBT), sanitary and phytosanitary (SPS) measures, dispute settlement, movement of natural persons, telecom, financial services, customs procedures and cooperation in other areas. The trade agreement provides for an institutional mechanism to encourage and improve trade between the two countries. It will cover 310 export items for India, including foodstuff and beverages (80 lines), agricultural products (25 lines), textile and textile articles (27 lines), base metals and articles thereof (32 lines), electricals and electronic item (13 lines), plastics and chemicals (20 lines), wood and articles thereof (15 lines), and others. Mauritius will benefit from preferential market access into India for its 615 products, including frozen fish, speciality sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic drinks, soaps, bags, medical and surgical equipment, and apparel.4th Indian Cement Review Conference 202117-18 March Click for event info With regards to trade in services, Indian service providers will have access to around 115 sub-sectors from the 11 broad service sectors, such as professional services, computer related services, research and development (R&D), other business services, telecommunication, construction, distribution, education, environmental, financial, tourism and travel related, recreational, yoga, audio-visual services, and transport services. India has offered around 95 sub-sectors from the 11 broad services sectors, including professional services, R&D, other business services, telecommunication, financial, distribution, higher education, environmental, health, tourism and travel-related services, and recreational and transport services. Both the countries have also agreed to negotiate an Automatic Trigger Safeguard Mechanism (ATSM) for a limited number of highly sensitive products within two years of the agreement's signing.Image: Technology, such as the proposed ATSM, may feature as a pivot in several segments. Also read: DPIIT identifies 10 sectors to cut imports Also read: L&T bags Mauritius metro rail contract

Next Story
Infrastructure Urban

MoHUA Plans New Role for Smart City SPVs

In a significant policy move, the Ministry of Housing and Urban Affairs (MoHUA) has issued an advisory encouraging the continued use and repurposing of Special Purpose Vehicles (SPVs) formed under the Smart Cities Mission (SCM). This marks a step toward sustaining urban transformation by leveraging institutional capabilities and infrastructure developed over the past decade.Initiated in 2015, the Smart Cities Mission introduced a new era of urban planning in India, with each of the 100 selected cities forming SPVs under the Companies Act, 2013. These entities, jointly owned by state government..

Next Story
Infrastructure Urban

ADB Approves $110 Million Loan to Boost Skills in Gujarat

The Asian Development Bank (ADB) has approved a USD 109.97 million (Rs 9.27 billion) results-based loan to support Gujarat’s efforts to become a global industrial hub by developing a future-ready, skilled workforce.The funding will back the Gujarat skills development programme, led by the Department of Labour, Skill Development and Employment in collaboration with Kaushalya: The Skill University (KSU). The initiative aims to equip the workforce with advanced, industry-aligned skills to meet rising employment demand in high-growth sectors.According to ADB, the programme seeks to strengthen in..

Next Story
Infrastructure Urban

SDAL Tests Rudrastra UAV and Bhargavastra Defence System

Solar Defence and Aerospace Limited (SDAL) has successfully completed a key flight test of its indigenous Hybrid VTOL UAV Rudrastra at the Pokharan Firing Range, aligning with Indian Army performance benchmarks for mission adaptability, high endurance, precision engagement, and vertical take-off and landing (VTOL) capability.The trial marks a notable achievement in India’s Aatmanirbhar Bharat initiative, underscoring advancements in home-grown military technology. The Rudrastra UAV demonstrated a mission radius exceeding 50 km with uninterrupted video relay, a total operational range of over..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement