Mauritius tops investor's list in India

According to the latest report of the Ministry of Industry Commerce on foreign direct investment (FDI), Mauritius remains the leading country investing in India with $6.6 billion (about Rs 198 billion) followed by Singapore with $1.6 billion.

According to operators, as India continues to grow, investment will be necessary. The president of the Association of Trust and Management Companies, Kamal Hawabhay, said investment in India stands at 40 per cent compared to other countries.

“Since the beginning of the year, we have noticed a large proportion of investments in India through the Mauritius offshore. Investors believe in substantial returns,” he said.

However, Hawabhay argues that there is no pressure to revise the treaty on avoidance of double taxation. He added that in the event of revision of this treaty, investments in transit through Mauritius to India will not be affected.

Hawabhay said that the Direct Tax Code, which is expected to be reviewed by the Indian government, does not directly target Mauritius.