Mauritius sees deeper India ties, local-currency trade and energy cooperation as pathways to stronger economic resilience across BRICS and Africa…reports Asian Lite News Desk
Mauritius is looking to deepen its economic partnership with India by expanding trade in local currencies, strengthening energy cooperation and using its position as a gateway to Africa.
In an exclusive interview with IANS, Mauritius Minister of Financial Services and Economic Planning Jyoti Jeetun said greater use of local currencies could reduce dependence on major international currencies and create new opportunities for economies across the Global South.
“At the current time, when there is considerable debate about geopolitics and the Global South, this is becoming a very important issue,” Jeetun said.
The Bank of Mauritius and the Reserve Bank of India signed a memorandum of understanding last year to establish a clearing system for Indian rupees and Mauritian rupees. The proposed mechanism would allow businesses to conduct transactions directly in the two currencies rather than relying on hard currencies.
Jeetun said the initiative could become particularly significant if expanded beyond bilateral trade.
“If trade in local currencies is introduced not only between India and Mauritius but also in terms of wider BRICS cooperation and the African continent, it could be a game-changer for all these economies,” she said.
For Mauritius, the opportunity extends beyond its relatively small domestic market of around 1.2 million people. The minister believes the country can serve as a bridge connecting Indian businesses and investors with the wider African market.
Mauritius is a member of the African Union as well as the Southern African Development Community and COMESA. Jeetun said the country is therefore working to strengthen links between India and Africa.
“I think the bigger opportunity lies in the broader India-Mauritius-Africa ecosystem,” she said, pointing to Africa’s expanding economy, investment potential and large consumer market.
She also highlighted the importance of greater certainty for investors following the recent ratification of the protocol to the India-Mauritius Double Taxation Avoidance Agreement.
“We now feel strongly that we can move forward and provide certainty, predictability and confidence to investors regarding the Mauritius-India treaty and economic relationship,” Jeetun said.
Energy security is another important pillar of the relationship. An agreement was recently signed between the two governments, alongside a sale and purchase agreement between Indian Oil and Mauritius’ State Trading Corporation.
Jeetun described the arrangement as more than a conventional commercial deal, particularly amid geopolitical uncertainty and disruptions to global fuel supply chains.
“We view this not simply as a trade relationship but as an economic partnership that provides enormous energy-security guarantees to Mauritius,” she said.
The minister also praised India’s economic trajectory and Prime Minister Narendra Modi’s Viksit Bharat 2047 vision, describing the country’s rise from the world’s 10th or 11th-largest economy to its current position as a major global economic power as an inspiration for Mauritius.
As both countries seek to expand commercial ties, Jeetun sees local-currency settlement, investment certainty, Africa-focused trade and energy cooperation as key components of a broader partnership—one that could extend well beyond traditional bilateral commerce.
