The people of Indian descent account for a vast majority (about 70 per cent) of Mauritius population.
'China is India's primary strategic challenge, which will not go away.
In May, India and Mauritius signed a protocol to introduce in-principle taxation of capital gains in India in a phased manner.
The government on Tuesday said it has received information related to black money from Mauritius and was examining it for appropriate action.
India told Mauritius that it will not take any decisions that will "adversely impact" bilateral relations while reassuring the country that amendments to the bilateral tax treaty would be made only after considering the legitimate interests of both sides.
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.
Foreign Direct Investment inflows from Mauritius have almost halved during April-January period of last fiscal to $4.11 billion on fears of impact of GAAR and possible re-negotiation of the tax avoidance treaty.
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.
The Centre is in talks with Mauritius with regard to the long-pending revision of the bilateral tax treaty.
An athlete at the Commonwealth Games is in a 'serious' condition at a Gold Coast hospital after contracting malaria, organisers said on Friday.
Short of saying that it will not renegotiate the Double Taxation Awardence Treaty with India, Mauritius said on Tuesday there was a need for a balanced approach as the agreement has benefited both the countries since it was framed in 1983.
Other documents might be needed for investors from other nations
The initiative was made public by Bihar Roots Foundation president Goorooduth Chuttoo, who is accompanying Mauritius Prime Minister Navinchandra Ramgoolam, who is on a three-day visit to Bihar.
Mukherjee, who is in Port Louis on a three-day visit, said the Double Taxation Avoidance Convention cannot be seen in isolation, separate from the many strands that weave the tapestry of India-Mauritius relationship and efforts, and it should remain focused on realisation of the full potential of the bilateral ties.
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.
President Pranab Mukherjee on Monday left for Mauritius on a three-day visit during which he will be the chief guest at the national day celebrations of that country.
In addition to participating in the swearing-in ceremony, the leaders will attend a banquet hosted by President Droupadi Murmu at Rashtrapati Bhavan, it said.
The JWG has had eight rounds of meeting since it was set up in 2006 but no mutually agreeable solution has been arrived at.
Mauritius President Rajkeswur Purayag failed to control his emotional tears when he visited Bihar's Wajidpur village, the land of his great grandfather, on Sunday.
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
Mauritius FDI source for India during Apr-Dec.
Mauritius President Rajkeswur Purryag is among the 15 persons and organisations selected for the Pravasi Bharatiya Samman awards for this year.
The visiting minister said that trade and economic relations between the two countries are constantly gaining momentum.
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.
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
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.
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.'
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.
Foreign investors have pulled out a massive Rs 22,000 crore from Indian equities so far this month, due to uncertainty surrounding the outcome of the Lok Sabha elections and outperformance of Chinese markets.
Net inflows were $18.4 billion for the rolling 12-month period ended January 2024 compared to $32.7 billion for the rolling 12-month period ended January 2023.
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
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