India and Mauritius signed a $100 million Defence Line of Credit agreement on Monday. It was a part of several understandings, including the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) that was signed between the two countries during the ongoing visit by External Affairs Minister S. Jaishankar.
“Privileged to witness along with Prime Minister Pravind Kumar Jugnauth the signing of Comprehensive Economic Cooperation and Partnership Agreement, India’s first such agreement with an African country. [This] will help focus on post pandemic economic recovery. Enable business expansion and greater investments,” said Mr. Jaishankar in a message after the signing of the agreement.
Using the new framework under the CECPA, India and Mauritius would provide preferential access to a number of items like surgical equipment, medicine, and textile products that would cater to market requirements on both sides. “Just to illustrate some of the benefits, Mauritius will get preferential access for export of 40,000 tonnes of sugar into India at an early time frame,” said Mr. Jaishankar.
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