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India and Mauritius discuss free trade agreement

India and Mauritius concluded the second round of negotiations for the proposed free trade agreement (FTA), aimed at boosting bilateral trade and investments.

The three-day talks for Comprehensive Economic Cooperation and Partnership Agreement (CECPA) started in New Delhi on April 16, a government official said.

During the deliberations, trade in goods, services besides economic cooperation were discussed.

In an FTA, two trading partners cut or eliminate duties on majority of goods besides liberalizing norms to promote services trade and boost investments.

Sources said, India may not get huge benefit in goods sector as Mauritius is a small market, but services sectors such as IT and tourism hold huge potential to enhance economic ties.

Island nation Mauritius is the top source of foreign direct investment (FDI) into India. In 2016-17, India received $15.72 billion. The bilateral trade between the countries stood at about $900 million in 2016-17.

 

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