The two ministers also agreed to accelerate the Preferential Trade Agreement (PTA) negotiations and to intensify the economic engagement of the bilateral trade.
A MoU was signed earlier this year between the two countries which envisaged the consolidation of the textile and clothing industry, enhancing the trade and economic relations by expanding business and cooperation in the areas of textiles, clothing and fashion industries, exchange of information and documents, technology transfer and sharing and adopting best practices in production, productivity, quality, fashion and design, product development and executive development programmes between India and Mauritius.
India is a major supplier of cotton to Mauritius and Mauritius is the single largest source for FDI into India. The FDI inflows from Mauritius have been US$ 64.80 billion, which constitutes 37.64 percent of the total FDI inflows from the country. Indian investment in Mauritius amounts to about US$ 14.33 billion.
The bilateral trade between India and Mauritius in 2011 was US$ 1.40 billion against US$ 0.69 billion in 2010. While the exports in 2010 were US$ 0.68 billion which increased to US$ 1,36 billion in 2011. The imports of US$ 0.015 billion in 2010 have also increased to US$ 0.034 billion in 2011.