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
Infrastructure Energy

TKIL, KIS Partner to Boost Biogas in Clean Energy Push

In a strategic move to diversify its operations and support India’s clean energy goals, TKIL Industries (formerly thyssenkrupp Industries India) has entered the bio-chemicals sector through a new partnership with KIS Group, a global leader in sustainable biofuel technologies. The collaboration focuses on boosting Compressed Biogas (CBG) production using advanced technology and localized biomass resources. This association marks a significant step for TKIL Industries as it expands into the renewable energy space. By leveraging KIS Group’s expertise and proprietary technologies, the company..

Next Story
Real Estate

Noida & Jewar Set for Sharp Rise in Property Costs

Noida and Jewar may oversee significant price hikes for properties. This is due to a recent proposal from Gautam Buddha Nagar which outlines plans to increase circle rates, the minimum price at which a real estate property can be sold to a buyer as determined by the government, in both cities. This increase in circle rates would lead to an increase in the stamp duties a homebuyer would have to pay. Under the proposal, high-rise apartments in Noida may see a 20 per cent increase, while Greater Noida is set for a 30 per cent hike. The most substantial rise is expected in agricultural land pric..

Next Story
Infrastructure Urban

KPIL Bags Rs 6.21 Bn Orders Across Railways and Infra

Kalpataru Projects International Limited (KPIL) has announced the acquisition of new orders worth approximately Rs 6.21 billion across its Buildings & Factories (B&F) and Railway businesses in India. This development comes as a significant addition to the company's growing list of orders, underlining its strong presence in India’s infrastructure sector. Speaking on the milestone, Manish Mohnot, Managing Director & CEO of KPIL, expressed optimism about the company’s continued momentum. “We are delighted with the order wins in our B&F and Railways business. These wins will help us further..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?