The Indian Business Council, known as IBC, was established in Mauritius in 2021 with the mission of « connecting economies through business. » Its primary goal is to enhance trade and business relationships between Mauritius and India while utilizing Mauritius as a strategic hub for conducting business in Africa.
Through this organization, business owners and senior management from both countries have a platform to share their expertise and strengthen their business connections. IBC envisions becoming the leading business association in Mauritius for promoting commercial relationships and opportunities among Mauritius, India, and the African continent.
The council boasts a robust and powerful membership database that includes major Indian public and private sector companies, well known Mauritian companies as also companies set up by Indian entrepreneurs. Its members bring extensive experience and knowledge in various fields, including Finance, Banking, Construction, Offshore, M&A, Structuring, Education, Engineering and Technology, IT, AI, Insurance, Hospitality, Travel and Media. IBC’s membership have the unique experience of understanding India, Mauritius and Africa, which sets its apart and places it well to integrate the business and trade interests of India, Mauritius and Africa enabling India to grow strongly and Africa to gain its rightful place in global trade and business and Mauritius playing the perfect bridge in linking the two growth engines.
IBC open doors to new growth opportunities in the region. Organizations like IBC play a vital role in fostering international trade, economic cooperation, and business development across different regions.
IBC in its short tenure has established relationships with regional and focused business chambers in India including the Bangalore Chamber of Commerce and Madras Chamber of Commerce. It intends to extend relationships with regional chambers of commerce in India as it feels that the mid size Indian companies are keen to extend their business outside India and are keen to explore Africa and unlike their larger counterpart they require more handholding by Business Chambers like IBC.
In order to improve its reach in Mauritius and to create a platform of working together between Indian and Mauritian companies, IBC signed a MOU with Mauritius Chamber of Commerce and Industry (MCCI in August 2022. The objective of this agreement is, among other things, to set the principles and basis of trade relations, and to develop reciprocal cooperation between the two entities to improve the business environment in and between Mauritius and India. The objective of the collaboration was to find new opportunities in trade and investment.
IBC works closely with the EDB and conducted joint events with EDB and the Bangalore Chamber of Commerce in November 2022 to explore business and investment opportunities in Mauritius. We expect from the members of the chamber to Mauritius during 2023 to further work on opportunities.
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Dr. Suresh Nanda (President IBC)- Thoughts on IBC
At IBC we feel ourselves lucky to be based in Mauritius in a very interesting time where the historical business relationship between India-Mauritius-Africa is now gearing up for a surge. As the third largest economy and with its focus to become a developed economy in the next 25 years and the focus on the South South relationship, Mauritius will play an important role for forging the connect between Indian businesses and trade with Africa. It will be an unique model of growth and prosperity where all the partners will grow and prosper together and, in the process, a major part of the global population will enjoy the fruits of growth.
