India and Mauritius Sign 8 MoUs Covering Banking, Security, and Trade

India and Mauritius signed 8 Memorandums of Understanding (MoUs) on March 11, 2025 covering areas such as banking, trade, security, and governance. The agreements were signed during Prime Minister Narendra Modi’s two-day visit to the island nation, where he met his Mauritian counterpart, Navin Chandra Ramgoolam.

Important Agreements Signed

The signed MoUs focus on financial cooperation, infrastructure, and public sector development.

1. Local Currency Settlement – The Reserve Bank of India and the Central Bank of Mauritius signed an MoU to establish a local currency settlement system, allowing trade transactions to be conducted in Indian Rupees and Mauritian Rupees.
2. Water Infrastructure – A credit facility agreement was signed between the Government of Mauritius and the State Bank of India to support the Central Water Authority’s Pipe Replacement Programme.
3. Shipping Information Exchange – The Indian Navy and the Mauritius Police Force agreed to share white shipping information for maritime security.
4. Diplomatic Training – An MoU between the Institute of Foreign Service of India and Mauritius’ Ministry of Foreign Affairs was signed to provide training programs for diplomats.
5. Financial Crime Cooperation – India’s Enforcement Directorate and Mauritius’ Financial Crimes Commission signed an agreement to collaborate on tackling financial crimes.
6. Support for MSMEs – India’s Ministry of Micro, Small, and Medium Enterprises (MSMEs) and Mauritius’ Ministry of Industry, SMEs, and Cooperatives signed an MoU to strengthen small business cooperation.
7. Public Service Training – Mauritius’ Ministry of Public Service signed an MoU with India’s National Centre for Good Governance for training public officers.
8. Ocean Information Collaboration – The National Centre for Ocean Information Services of India and Mauritius’ Department for Continental Shelf, Maritime Zones Administration, and Exploration signed an MoU for cooperation in oceanic research and data exchange.

Conclusion

During the visit, India announced support for the construction of a new Parliament building in Mauritius. Discussions were also held between PM Modi and other Mauritian leaders, including opposition leader Georges Pierre Lesjongard and former Prime Minister Pravind Kumar Jugnauth, focusing on bilateral cooperation.

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