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Table 4.9 Main services sectors covered by trade agreements, 2021
Agreement: India
Sector: ICT services, financial services, tourism services, education, construction, environmental, distribution, business services, professional services, audiovisual services, transport services

4.106. (...) Since FY, there is one single tax regime for all banks, which are no longer required to split their expenses according to these segments; instead, they are taxed in the following way: • at a rate of 5% on the chargeable income of the actual year of assessment in excess of the chargeable income of the FY2017/18. For this additional income (over the FY2017/18) to be taxed at the lower rate of 5%, the bank must grant at least 5% of its new credit facilities to (...) enterprises engaged in agriculture, manufacturing, or production of renewable energy in Mauritius; (...).

4.165. Between 2014 and 2019, tourism was one of Mauritius' fastest-growing sectors, accounting for well over 8% of GDP and expanding by over 4% annually in real terms, thanks to a significant increase in international tourist arrivals. (...) .However, the WEF report calls for an expansion of the amount of protected areas (where Mauritius ranks 140th), and for better protection of the country's threatened wildlife. (...).

4.166. (...) The tourism sector has a strong impact on the rest of the economy, as Mauritius maintains a strong domestic supply chain involving the use and promotion of local products. Also, tourism services rely on environmental policy to market Mauritius as a zero carbon footprint destination.

4.167. Following the COVID 19 pandemic, however, the number of tourist arrivals for the first semester of 2020 decreased by 53% according to estimates by Statistics Mauritius. Tourism was then hit by an environmental disaster due to an oil spill in July 2020. [87]

[87] The MV Wakashio, a Japanese-owned bulk carrier operating under the Panamanian flag and travelling from China to Brazil, ran aground off the coast of Mauritius, releasing 1,000 tonnes of oil into lagoons.

4.168. The Ministry of Tourism is responsible for tourism policy in Mauritius. The Tourism Authority and the Mauritius Tourism Promotion Authority , both under the overall responsibility of the Ministry of Tourism, are responsible for promoting the sustainable development of the tourism industry and for promoting Mauritius abroad.

4.171. An Environment Protection Fee of 0.85% is levied on the turnover of hotels, guesthouses, or tourist residences of more than four bedrooms, as well as on hotel management companies and tour operators. This fee was suspended from March 2020 until 31 December 2020.

3.10. Sustainable development in the global context is understood as development that meets modern-day needs without undermining the ability of future generations to meet their own needs. In terms of the key markets, this trend assumes a long-term reduction in the global consumption of coal, oil and gas together with a promotion of demand for renewable energy, low-carbon technologies, food, and disaster-resilient finance and infrastructure. (...).

3.11. Climate change is a global challenge that requires joint efforts at an international level. This problem is interdisciplinary in nature and affects many areas, including trade and economy. Recently, the "green economy" concept has been widely transforming into concrete action programmes that have a practical dimension from the economic point of view. Measures (including unilateral measures) affecting market conditions are being introduced under the pretext of protecting the environment. There is a growing number of examples of Article 3 of the UNFCCC violations when measures to combat climate change are being used to restrict international trade. At the same time, the multiplication of such practices (including through the imposition of certain approaches on the other countries) entails a restructuring of the industrial production system, significant changes in traditional trade. Russia's policy is based on the presumption that climate change mitigation efforts should not restrict competition in world trade, or lead to inequality, introduction of discriminatory practices, and trade barriers.

5.20. The organic production niche is being developed. In January 2020, the law on organic products came into force, which laid the legal basis for the production and circulation of these products in the Russian Federation.