India has unveiled a groundbreaking initiative by extending a new line of credit worth Rs 487.60 crore to the government of Mauritius to finance a crucial water pipeline replacement project. This marks a significant milestone as it is India’s first-ever rupee-denominated Line of Credit under the Indian Development and Economic Assistance Scheme (IDEAS), as stated by the Ministry of External Affairs.
The ambitious project is set to replace nearly 100 km of outdated water pipelines in Mauritius, enhancing the country’s infrastructure and ensuring better access to clean water.
This government-supported line of credit will be facilitated by the State Bank of India under concessional terms, further strengthening economic ties between the nations. External Affairs Minister S. Jaishankar formally presented this offer to his Mauritian counterpart, Maneesh Gobin, who has now accepted it.
“This initiative illustrates India’s steadfast dedication to the socio-economic advancement of nations in the Global South. The Ministry of External Affairs highlighted that India’s development projects are consistently in harmony with the aspirations and needs of its partner countries.”
In the broader context of India’s trade data, this move could also play a role in addressing the Indian trade deficit by fostering stronger economic partnerships and enhancing Indian shipment data through increased exports. As a leading global import export data provider, India continues to pave the way for strategic collaborations that benefit both its economy and that of its partners, particularly in the realm of import data and trade growth.
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