New Delhi [India], February 13 (ANI): FinTech emerged as a central pillar in the evolving economic partnership between Mauritius and India, with both countries accelerating collaboration in digital payments, financial regulation and cross-border settlement, said Mauritius' Financial Services and Economic Planning Minister Jyoti Jeetun on Friday.
"Recently, the United Nations Economic Commission for Africa (UNECA) has announced its support for Mauritius in developing a National FinTech Strategy to position the country as a premier African hub for digital financial services. We are going to launch it in a couple of weeks, and it will lay the foundations for how to grow FinTechs in the region," she said.
"I think, given India's strong technology focus, there would be huge opportunities for India to develop fintech in Mauritius with the view of targeting African markets," she added.
"FinTech partnerships are already happening in Mauritius, and many Indian companies are relocating to Mauritius and working on the African market," she said.
"Recently, Mauritius Telecom has integrated India's Unified Payments Interface (UPI) into its MyT Money (MyT) app, making the platform accessible to consumers across Mauritius. The move signals growing interoperability between the two financial systems and reflects India's expanding digital payments footprint globally," she added.
She highlighted that the financial services remain a longstanding pillar of India-Mauritius economic ties. "Over the past three decades, Mauritius has been one of the largest sources of foreign direct investment (FDI) into India, facilitated by its well-developed financial services centre," she said.
Jeetun emphasised that the ecosystem built around cross-border investment has matured significantly, reinforcing the strategic interdependence between the two economies.
Addressing concerns about regulatory perception, she underscored that Mauritius is fully compliant with all 40 Financial Action Task Force (FATF) recommendations.
"We have 16 enforcement and regulatory agencies working relentlessly to ensure a highly regulated and clean jurisdiction. The government maintains a zero-tolerance approach toward non-compliance," she said.
The Financial Services Commission (FSC), now led by a newly appointed CEO, is also exploring deeper collaboration with India's Securities and Exchange Board of India (SEBI) to strengthen regulatory coordination, she highlighted.
Jeetun further mentioned that while fintech is taking centre stage, cooperation extends across multiple sectors, including renewable energy, maritime security and the blue economy.
"India is supporting Mauritius in areas such as electric buses and infrastructure development, further deepening bilateral engagement," she said. (ANI)