Mauritius conglomerate to explore JV possibilities with Indian cos
Mumbai, Apr 10 (UNI) The century-old Mauritius-based Rogers&Co. Ltd., in its bid to penetrate the growing Indian market and expand its footprints along the Indian Ocean rim and African region, is contemplating joint ventures with Indian companies.
The diversified Mauritius-based major with interests spanning hospitality, logistics, shipping, aviation, leisure, pharmaceuticals, and financial services segments will be sending a strong delegation of its senior executives to India from April 20-to-April 29 to explore business possibilities, a release here today said.
The delegation will meet with Indian business groups in Chennai, Delhi and Mumbai.
Rogers&Co, a Rs 1,200 crore group, will hold majority stakes in businesses where it has expertise while in others, the group will essay the junior partner role, pointed out the release, adding that the company is also open to Indian businessmen investing in the island nation in partnership with it.
Stating that Indian businessmen could set up manufacturing plants in Mauritius, the release highlighted the attractive investment facilities available in Mauritius that include duties and tax exemptions on raw materials and use of the preferential trade agreements Mauritus has with African countries such as COMESA and SADC.
''These agreements facilitate export of goods to the African continent at minimal or zero customs duries, thereby making Indian products more competitive,'' pointed out the release, adding that ''industries such as pharmaceuticals and spare parts assembly would be a prime target.'' Rogers&Co., which is listed on the Mauritius Stock Exchange and employs around 6,000 personnel, feels that the strong cultural ties enjoyed between the two countries as well as the emerging 2006 bi-lateral trade agreement between India and Mauritius (CECPA) will encourage greater economic co-operation between the two nations.
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