India-Mauritius Preferential Trade Agreement (Pta) -
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India-Mauritius Preferential Trade Agreement (Pta)

India and Mauritius, two nations with a deep and long-standing relationship, have signed a Preferential Trade Agreement (PTA) to boost economic cooperation between the two countries. The agreement, which came into effect on May 1, 2021, provides duty concessions for a wide range of products and services traded between India and Mauritius.

The PTA aims to strengthen bilateral trade relations between the two countries by enhancing trade flows and creating new market opportunities. It will also help to promote investment and business cooperation, facilitating the transfer of technology, know-how, and skills.

Under the PTA, both Mauritius and India have agreed to provide each other with preferential tariffs on a broad range of goods. Mauritius will get preferential access to the Indian market for more than 300 products, including frozen fish, speciality sugars, biscuits, fresh fruits, and vegetables, amongst others. In exchange, India will receive preferential tariffs on 615 products, including textiles, chemicals, and agricultural products.

The PTA is expected to benefit both countries, particularly Mauritius, as it provides access to a large and growing market for its exports. India, on the other hand, will benefit from increased access to Mauritian markets, which will enable it to diversify its exports.

Furthermore, the PTA also includes provisions for the protection of intellectual property rights and trade in services, such as professional services and traditional medicinal systems. This is a significant aspect of the agreement, as it recognizes the importance of non-tariff measures in promoting bilateral trade and investment.

In conclusion, the India-Mauritius Preferential Trade Agreement is a significant milestone in the economic cooperation between the two countries. It presents significant opportunities for trade-enhancing development, increasing trade and investment flows, and promoting sustainable economic growth. It will enable both countries to explore new opportunities for cooperation and deepen their economic ties.