Port Louis, Mar 11 (PTI) Mauritian Prime Minister Navinchandra Ramgoolam on Tuesday called upon Indian investors to explore opportunities in the island nation underlining that their participation is "vital" for its economic growth.

At a community event attended by Prime Minister Narendra Modi, Ramgoolam emphasised the Indian diaspora's contributions in sectors such as construction, tourism, healthcare, hospitality, and financial services.

India, with a global diaspora of approximately 35 million excelling in fields such as technology, medicine, and finance, remains a key partner for Mauritius.

Ramgoolam acknowledged the contributions of the Indian diaspora, noting, “Your participation is vital for the economic growth of Mauritius. When you come here, you enrich our country as well.” "We want to encourage people from India, more people to come to invest in Mauritius, especially foreign investors,” he said.

Ramgoolam outlined a series of economic reforms aimed at making Mauritius a business-friendly destination. He promised to reduce bureaucracy and eliminate red tape, stating, “We are looking forward to making businesses easier to do, less bureaucracy, less red tape.” A key initiative is the establishment of an arbitration centre to expedite commercial dispute resolutions.

“We’re going to lessen the commercial cost so that disputes can be resolved quickly,” he said, stressing that investors prioritise “clarity, predictability, and... the rule of law.” Mauritius is also seeking international expertise, including from India, to enhance its judicial and business framework.

“We are looking forward to the judges from abroad... I’m sure from India also we can get because we want to raise the standards,” Ramgoolam said, signalling a collaborative approach to improve Mauritius’ judicial and business environment.

The investment push coincided with a momentous occasion, as Ramgoolam announced the conferment of Mauritius’ highest civilian honour, the Grand Commander of the Order of the Star and Key of the Indian Ocean, upon his Indian counterpart Narendra Modi, who is on a two-day State visit to the island nation.

This prestigious accolade marks Modi as the first Indian and only the fifth global recipient of the award, recognising his contributions to strengthening India-Mauritius relations.

Expressing his gratitude, Modi lauded the deep-rooted historical and cultural ties between the two nations and reaffirmed India's commitment to bolstering bilateral cooperation. He noted that Mauritius continues to be a strategic partner for India in the Indian Ocean region, highlighting past collaborations in infrastructure, education, and capacity-building initiatives.

"The people and the government of Mauritius have decided to confer upon me their highest civilian honour. I humbly accept this decision with great respect. This is not just an honour for me, it is an honour for the historic bond between India and Mauritius," Modi said at the community event attended by over 3,500 people. PTI RK SCY SCY

Arbitration centre to expedite commercial dispute resolution alongside reforms to reduce bureaucracy and attract foreign investment. The government will streamline regulatory procedures to attract investment, establish an arbitration centre to expedite commercial dispute resolution and reduce commercial costs, and seek international judicial expertise to raise judicial and business standards, emphasizing clarity, predictability, and the rule of law for investors.