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India Shining

27 avril 2004, 20:00

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lexpress.mu | Toute l'actualité de l'île Maurice en temps réel.

India?s shine, a result of decade old robust economic growth was amply visible at the launch of the Indian Oil?s investment of US$ 18 million last week at Mer-Rouge.

Later during the day, the President of the Republic, Sir Anerood Jugnauth spoke fondly of the strengthening of historical relations between ?our two countries?, India and Mauritius and the tenacity of inseparable cultural and emotional bonding that Sir Vidia Naipaul thought would not last two generations.

This renewed Indian economic interest in Mauritius built on a comfortable foreign exchange chest that tops US$ 100 billion and a corporate ambition to emerge as the economic superpower of the twenty first century is also reflected in the US$ 25 million proposed investment by Infosys apart from the ongoing US$ 100 million Cybercity project and the US$ 12 million construction of the International Convention Centre.

During the last decade, Indian investment in Mauritius amounted to US$ 90 million approximately representing nearly 20 % of totalforeign direct investment inflows in the Mauritius EPZ sector. Indian investments of approximately US$ 335 million, in electronics, cables, ICT, spinning and light engineering products are now in the pipeline.

India, a hitherto destitute foster parent to a prosperous Mauritius, socially ridiculed and economically ignored for the poor quality of its products and questionable qualifications of its people was rated as the world?s fourth largest economy in Purchasing Power Parity (PPP) at $ 2,778 billion behind US, China and Japan by the World Bank?s World Development Indicators 2004, released last week. France stands sixth at $ 1,609 billion and the UK seventh at $ 1,574 billion.

India?s economic success, recognized worldwide, redeems a majority of Mauritian nationals who left their country generations ago to seek fortunes in a remote land. Successful Indo-Mauritius economic co-operation especially in the ICT sector can now lift the unfortunate sickle yielding sugar cane harvesters and backbending textile worker into wholesome knowledge workers.

Today, India is shining. The world?s most populous country is also the fastest growing market. Its intellect wealth is unmatchable and ambitions unbounded. Mauritius can only gain from a resurgent India and facilitating Indian and India?s interest in Mauritius should be top on Mauritian economic diplomacy agenda.

As Indian Oil makes a dent into the island?s economy, the South Asia?s largest petroleum corporation carries the burden of a distorted perception. Its performance as an innovative, world class, international operator with high quality standards can help unearth the Indian pride that lies buried, for ages, in the sugar cane fields of Mauritius.

<B>[email protected]

Baljinder Sharma</B>

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