Mauritius and Singapore account for the bulk of the $278 billion in foreign equity investments since 2000
Now, funds from Mauritius interested in India will have to weigh paying capital gains taxes that could range from zero to as much as 20 per cent
The Reserve Bank of India (RBI) has recognised the Fintech Association for Consumer Empowerment (FACE) as a self-regulatory organisation (SRO) in the fintech sector, the central bank announced on Wednesday. The banking regulator received three applications for fintech SRO. Of the remaining two applications, one has been returned by the RBI with a provision for resubmission after meeting specific requirements, while the third application is still under examination, said Governor Shaktikanta Das at the Global Fintech Fest in Mumbai.
The visiting minister said that trade and economic relations between the two countries are constantly gaining momentum.
Mauritius President Rajkeswur Purryag is among the 15 persons and organisations selected for the Pravasi Bharatiya Samman awards for this year.
Mauritius FDI source for India during Apr-Dec.
Long accused of being a route for avoiding taxes for foreign investments into India, Mauritius says it has put additional safeguards in place to thwart such wrong perceptions and to boost its image as a preferred global financial centre.
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.
Lieutenant Commanders Dilna K and Roopa A will remain at sea for 8 months. They will rely on wind power, do the repairs on the boat themselves and navigate some the world's most treacherous waters.
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
Refuting reports of a Mauritian identity card being recovered from one of the slain terrorists who attacked Mumbai, Mauritius has said the only document found bearing the country's stamp was of a bank official, who was killed in the terror siege.
Reader Gunjan Singh has sent us this photograph with the star.
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
An article on 'State of the Economy' in the monthly Bulletin also said the improvement in the outlook for agriculture and the revival of rural spending have turned out to be the bright spots in the evolution of demand conditions. Consumer price inflation ticked up in June 2024 after three consecutive months of moderation as a broad flare-up in vegetable prices halted the overall disinflation that had been underway, it said.
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.'
The government on Saturday lifted the ban on onion exports but imposed a minimum export price (MEP) of $550 per tonne, amid ongoing Lok Sabha elections in the country. Last night, the government imposed a 40 per cent duty on export of onions. In August last year, India had imposed a 40 per cent export duty on onions up to December 31, 2023.
It is believed that a large majority of them are third country investors which use the Double Taxation Avoidance Convention with Mauritius for saving capital gains tax.
Prime Minister Narendra Modi has said that the Quad is not against anyone, but for a rules-based international order and respect for sovereignty, in a veiled reference to China.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
'China is India's primary strategic challenge, which will not go away.
A tax authority has ruled that Mauritius-based companies will have not have to pay capital gains tax in the country, a decision that will encourage global business entities to route investment from the island nation.
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
Mauritius wanted extension of the benefits limitation clause in India's treaty with Singapore, which we were quite willing to extend, for our price
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
Mauritius to offer IT jobs to Andhraites
A multi-layer security arrangement involving five companies of paramilitary personnel, NSG commandoes and snipers have already been deployed around the Rashtrapati Bhawan. Drone cameras have also been put into service.
Deputy Managing Editor Anthony D'Costa is travelling with Prime Minister Dr Manmohan Singh on the latter's four-day visit to Mauritius.
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.
Mahanagar Telephone Nigam Ltd has bagged three licences for offering fixed, GSM-based mobile and international long distance services in Mauritius.
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