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 

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

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
Real Estate

The Only Way is Up!

In 2025, India’s real-estate market will be driven by a confluence of economic, demographic and policy-driven factors. Among these, Boman Irani, President, CREDAI National, counts rapid urbanisation, the rise of the middle class, policy reforms like RERA and GST rationalisation, and the Government’s decision to allow 100 per cent FDI in construction development projects (including townships, housing, built-up infrastructure, and real-estate broking services).In the top metros, especially Bengaluru, followed by Hyderabad and Pune, the key drivers will continue to be job creation a..

Next Story
Building Material

Organisations valuing gender diversity achieve higher profitability

The building materials industry is projected to grow by 8-12 per cent over the next five years. How is Aparna Enterprises positioning itself to leverage this momentum and solidify its market presence?The Indian construction and building materials industry is projected to witness significant expansion, with estimates suggesting an 8-12 per cent compound annual growth rate (CAGR) over the next five years. This growth is fuelled by rapid urbanisation, increased infrastructure investments and sustainability-focused policies. With India's real-estate market expected to reach $ 1 trillion by 2030, t..

Next Story
Real Estate

Dealing with Delays

Delays have beleaguered many a construction project in India, hampering the country from building to its ability and potential, and leading to additional costs incurred by the contractor. The reasons for delayIn India, delays mainly occur owing to obtaining statutory approvals, non-provisioning of right of way, utility diversion and approval of drawings and design. Delays are broadly classified based on responsibility and effect. Excusable delays arise from factors beyond the contractor’s control, such as force majeure events or employer-induced delays. These delays generally entitle th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?