Mauritius PM in India for trade talks

NEW DELHI: Prime Minister Manmohan Singh will hold talks with his visiting Mauritian counterpart Navinchandra Ramgoolam on Tuesday.  The talks are expected to provide momentum to wrap up negotiations on the revision for a double taxation avoidance treaty.  Ramgoolam arrived on Monday afternoon on a five-day visit accompanied by his wife Veena Ramgoolam.

 The MEA Additional Secretary, Gurjit Singh said that both countries agreed that “economic interests should be protected”.

 The revision of the treaty is important as Mauritius has become the biggest source of FDI to India, accounting for 40 percent in the last ten years.  From 2000 to 2011, Mauritius-based companies have invested over $67 billion in India, mainly due to the tax breaks following the signing of the bilateral double taxation treaty. Accompanied by a large business delegation, Ramgoolam will also be travelling to Mumbai to meet India’s top corporate captains. He will also attend Kurukshetra University’s convocation ceremony on February 8 , where a Degree of Doctor of Laws will be conferred on him.