November 6, 2018
India’s partnership in Africa currently includes around 180 lines of credit worth about US$11 billion in over 40 countries
Indian firms have invested over US$54 billion in Africa and the nation’s trade with Africa is now worth over US$62 billion
VP Naidu attended the 13th Annual Global Expo in Gaboron, Botswana, where 28 Indian firms participated for the first time
VP Naidu also attended the India Malawi Business Meet nd the India-Zimbabwe Business Forum that saw signing of critical deals
In his first Africa tour, Vice President of India Shri M Venkaiah Naidu visited Botswana, Zimbabwe and Malawi over October 31 – November 6. During the trip, VP Naidu met heads of state of the three nations, as well as the business fora and the local Indian community. The trip underlines the priority, the Indian Government accords to Africa. The visit follows a number of high-profile exchanges between India and African nations in recent times, under growing bilateral and multilateral partnerships. India’s partnership in Africa currently includes around 180 lines of credit worth about US$11 billion in over 40 countries.
During the trip, VP Naidu attended the opening of the 13th Annual Global Expo in Botswana’s capital Gaboron where 28 Indian companies participated for the first time showcasing India’s economic and Industrial prowess. Besides growing export markets, Africa provides strong investment opportunities for Indian firms in sectors such as financial services, energy and power, mining, manufacturing, transport, healthcare and agro processing. VP Naidu also met his Botswana counterpart, Slumber Tsogwane, President Mokgweetsi Eric Keabetswe Masisi and attended the India-Botswana CEO Roundtable.
In Zimbabwe, VP Naidu met with President Emmerson Mnangagwa, and Vice President Constantino Chiwenga. The visit saw signing of a host of agreements as well as the India-Zimbabwe Business Forum. Potential trade and investment in areas such as mining, manufacturing, ICT, pharmaceuticals, food processing, defence production, infrastructure, tourism, among others, were discussed during the visit. The two sides also discussed joint development of the MSME sector in both the nations, which is expected to boost bilateral trade currently worth over US$230 million and investment at US$500 million.
In Malwai, VP Naidu attended the India Malawi Business Meet, and met with President Peter Arthur Mutharika. He also attended the opening of Jaipur Foot Camp for Fitment of Artificial Limbs under the “India for Humanity” theme. During his stay, VP Naidu reaffirmed India’s desire to strengthen, economic, technical, educational, healthcare and agricultural cooperation with Malawi. Meanwhile, President Mutharika urged the Indian Private sector to invest in manufacturing in Malawi. Indian firms have invested over US$54 billion in Africa and the nation’s trade with Africa is now worth over US$62 billion.
During his visit, India made substantial commitment to Botswana, Zimbabwe and Malawi on development partnership and assistance, including US$350 million for projects in Zimbabwe, US$220 million of lines of credit for water supply projects in Malawi.