India, Mauritius to work towards facilitating bilateral trade in local currencies: PM Modi
Prime Minister Narendra Modi and Mauritius leader Navinchandra Ramgoolam held discussions in Varanasi on September 11, 2025, focusing on strengthening bilateral relations. A key outcome of the talks was the decision to explore mechanisms that will enable trade between India and Mauritius in local currencies, reducing reliance on the US dollar and enhancing economic resilience. Both leaders emphasized that this move would encourage smoother financial transactions, lower transaction costs, and deepen economic integration between the two countries. Modi also highlighted India’s long-standing cultural ties with Mauritius, noting the shared heritage that continues to bind the nations. The meeting touched upon cooperation in areas such as technology, maritime security, and renewable energy, underscoring the commitment to a broader strategic partnership. With this initiative, India and Mauritius aim to foster sustainable growth while ensuring that bilateral trade remains robust and mutually beneficial.
The Key points
- India and Mauritius to promote trade in local currencies.
- Talks held between PM Modi and PM Ramgoolam in Varanasi.
- Expected to lower transaction costs for both nations.
- Discussions covered strengthening cultural and economic ties.
- Cooperation in renewable energy highlighted during talks.
- Maritime security partnership discussed to ensure regional stability.
- Focus on boosting technology and innovation exchanges.
- Leaders reaffirmed commitment to deepening strategic relations.
- Local currency trade seen as a step towards sustainable growth.
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