Other documents might be needed for investors from other nations
Dismissing the notion that Mauritius is a tax haven, the island nation's Vice Prime Minister Ramakrishna Sithanen on Tuesday said he has not received any complaints from India about routing investments via his country to evade taxes.
Beginning its campaign in India, the Global Institutional Investors Forum said that Mauritius was fully supporting India's fight against black money and money laundering and it was 'a clean, transparent jurisdiction of substance.'
Net foreign direct investment (FDI) in India, inflows minus outflows, declined 38.4 per cent year-on-year to $15.41 billion in the first 10 months of this financial year due to an increase in the repatriation of capital. According to the Reserve Bank of India's data in the March 2024 bulletin, FDI in India was $25.53 billion and outflows were $10.11 billion in April 2023-January 2024. In the same period last year, FDI inflows stood at $36.75 billion and outflows at $11.75 billion.
Indian Oil Corp, the country's largest oil firm, has opened its first petrol station in Mauritius, making it the second country after Sri Lanka where IOC has begun fuel retailing outside India.
The decks have been cleared for Pakistan football team for its participation in the SAFF Football Championship after receiving visas travel to India on Monday.
High interest rates, minimal documentation and an unresponsive government are enough incentives for terror financiers and politicians to stash away their ill-gotten wealth to off-load their wealth to Mauritius. But does the world, especially India, realise the inherent dangers? Vicky Nanjappa reports
From a few rain gauges in 1875 to rivalling the world's best weather agencies, the India Meteorological Department (IMD) has weathered its way to becoming a global leader in forecasting.
Food and grocery delivery major Swiggy on Thursday filed its updated draft papers with capital markets regulator Sebi to raise funds through its much anticipated initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 3,750 crore and an offer-for-sale (OFS) of 18.52 crore equity shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP). Market sources have pegged the company's IPO size at over Rs 10,000 crore.
Withdrawing a blanket ban on overseas shipments of non-basmati white rice, the government on Saturday imposed a floor price of $490 per tonne and exempted the commodity from export duty. Exports of non-basmati white rice have been banned since July 20, 2023 to boost domestic supply. "The export policy for non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or gazed) ...is amended from prohibited to free, subject to MEP (minimum export price) of $490 per tonne with immediate effect and until further orders," the directorate general of foreign trade (DGFT) said in a notification.
The new Supreme Court building in Port Louis is a symbol of India-Mauritius cooperation and shared values, the prime minister said in his address.
President Pranab Mukherjee will be the chief guest at the national day celebrations of Mauritius on March 12 as part of his second state visit abroad.
The amendment would help check round-tripping of funds and boost the domestic consumption, Jaitley added
The average value of retail digital payments dropped 48 per cent from Rs 8,769 in March 2021 to Rs 4,560 in March 2024 due to a growing preference to use digital modes of transactions for small value payments, according to the Reserve Bank of India's (RBI) report on the trend and progress of banking in India.
Foreign direct investment in India jumped 47.8 per cent to $16.17 billion in April-June this fiscal on healthy inflows in services, computer, telecom and pharma sectors, according to government data. FDI inflows were at $10.94 billion in April-June 2023-24. The data showed that overseas inflows in May rose to $5.85 billion and in June to $5.41 billion from $2.67 billion and $3.16 billion, respectively, in the year-ago period.
A summary of sports events and persons who made news on Sunday
Market regulators of India and Mauritius inked a crucial agreement, on Thursday, for sharing of information on securities dealings, which would assist Sebi to dig deep into the securities scam of 2000-01 and prevent similar incidents in future.\n\n\n\n
An India-built naval patrol vessel for Mauritius that will help in better policing its vast exclusive economic zone was commissioned today by Prime Minister Narendra Modi who said it will make the Indian Ocean "more safer and secure".
Treaty shopping by investors to be over if island nation budges on capital gains tax.
The OCCRP report alleges that at one point, EIFF and EMRF held free-floating shares ranging from 8 per cent to nearly 14 per cent in the four Adani Group companies.
Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that "twisted narrative" seems to imply that companies have regulatory powers over their shareholders and can compel disclosures. Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about $6 billion of shares across the conglomerate.
A special quiz to mark the occasion of Ganesh Chaturthi.
The Jardine Fleming India Fund said on Tuesday that directors have decided again presenting shareholders with a proposal to liquidate the fund.
The only family Meghana lived with after losing her parents and brother in the tsunami was her dog, Alex. When Alex died after 13 years, she took her ashes to where her own family lay under the ocean. "I wanted her to join the rest of my family and that is one of the best things I have done."
Mauritius is back in the news, and as usual not for the right reasons.
In Geneva, Bagchi would succeed Indra Mani Pandey who is set to return to New Delhi.
India on Monday promised Mauritius that it will remain a steadfast partner as the two nations advocated a rule-based architecture of global governance that will be a bulwark against challenges such as terrorism.
Air India will launch its direct flights from India to Mauritius from September 12, its chairman and managing director V Tulasidas said.
Having made no headway to amend a 26-year-old double taxation avoidance agreement with Mauritius, the finance ministry has hardened its stance against broadening India's economic engagement with the island nation.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
Megahna Rajsekhar survived the tsunami and was rescued by an unknown tribal man. 14 years later she tracked him down to say thank you.
Modi is likely to hold separate bilateral meetings with the foreign leaders.
India is responding swiftly to the intended Chinese encroachment in a region it has seen as its traditional sphere of influence. The Indian Ocean is becoming the latest theatre of Sino-Indian rivalry, with China straining to breach India's old intimacy with island nations like the Maldives and Mauritius and sparking a diplomatic battle between the two countries.
