Allaying the perception of Mauritius being a tax-haven, the government's investment promotion agency Board of Investment (BOI) also said that Mauritius on contrary is recognised as "a clean, efficient and compliant jurisdiction".

This view is supported by global bodies like International Organisation of Securities Commissions (IOSCO), International Association of Insurance Supervisors (IAIS), Financial Action Tax Force (FATF) and Islamic Financial Services Board (IFSB), it said.

Besides, the country has one of the world's most stringent anti-money laundering legislations, showing the "pro-activeness of Mauritius to prevent any kind of illicit transactions from being structured in the country", the BOI said in its latest report on the Mauritian economy.

"The Mauritius Revenue Authority has fully collaborated with information requests and remains committed to do so. In fact, over the last three years, effective exchange of information has taken place in 170 cases between MRA and the competent Indian authorities in India, of which some are even outside the framework of the DTAA," the BOI said.