‘Not an assistance, it’s an investment’: PM Modi on economic package for Mauritius; to enable trade in local currencies

Prime Minister Narendra Modi announced a special economic package for Mauritius as well as multiple projects. “This package is not an assistance. It is an investment in our shared future,” said PM Modi during his joint press statement with Prime Minister of Mauritius, Dr. Navinchandra Ramgoolam. He also said both India and Mauritius would work towards enabling trade in local currencies.

This package will support Mauritius’ needs and priorities, he said, as well as strengthen infrastructure, create new employment opportunities, and further enhance healthcare facilities.

The government also announced grant and grant-cum-loan of credit (LOC) assistance for various projects in Mauritius. The grant assistance included the construction of the new Sir Seewoosagur Ramgoolam National Hospital, establishment of an AYUSH Centre of Excellence, development of a veterinary school and animal hospital, and provision of helicopters. The estimated cost for these projects is approximately $215 million.

Under the grant-cum-LOC assistance, projects include the completion of the new Air Traffic Control tower at SSR International Airport, development of Motorway M4, development of Ring Road Phase II, and acquisition of port equipment by the China Harbour Engineering Company Limited (CHCL). The estimated cost for these projects is around $440 million.

Both sides also agreed in principle to the redevelopment and restructuring of the Port in Mauritius and to provide assistance in the development and surveillance of the Chagos Marine Protected Area. Additionally, it was agreed in principle that the government will extend budgetary assistance of $25 million in the current financial year.

PM Modi also said, “Last year, UPI and RuPay cards were launched in Mauritius. Now, we will work towards enabling trade in local currencies.”

India will provide 100 electric buses to Mauritius, and will extend support in the establishment of a 17.5 MW floating solar power plant at Tamarind Falls. PM Modi said a new Directorate of Science and Technology will be established in Mauritius.

“A free, open, secure, stable, and prosperous Indian Ocean is our shared priority. In this context, India remains fully committed to strengthening the security of Mauritius’s Exclusive Economic Zone, and enhancing its maritime capacity…The refitting of the Mauritius Coast Guard ship is being undertaken in India. In addition, 120 of their officers are also being trained in India,” said PM Modi.

Both India and Mauritius would cooperate in the field of hydrography, and would work together on joint surveys, navigation charts, and hydrographic data of the EEZ.

“India and Mauritius are two nations, but our dreams and destiny are one,” said PM Modi.