The eastern regional office of the Confederation of Indian Industry (CII) today sent a 17-member delegation to the African nations of South Africa, Zambia and Kenya.
The delegation, on an 11-day mission, will seek opportunities to strengthen the business ties and co-operation between India and the African nations.
The aim of the mission, according to a release issued by CII, is not only to explore the investment opportunities for Indian companies, but also to showcase the inherent strength and potential of the five eastern states — West Bengal, Bihar, Odisha, Jharkhand and Chhattisgarh — and attract investments from South Africa, Zambia and Kenya.
Focus will be on seeking investments in sectors like manufacturing, mining, healthcare, information, communications and technology and tourism.
“Among the big Indian companies doing business in Africa are the Tatas, Ranbaxy, Bharti Airtel, etc., in sectors such as automobile, engineering, IT, telecom and pharmaceuticals. Moreover, India is now Africa’s fourth largest trade partner after the European Union, China and the US,” said Sudhir Deoras, Chairman, CII-Eastern Region and Managing Director of TRF Ltd, a Tata group company, according to a release.
With over a billion population, young workforce, vast arable land and natural resources, and a GDP growth of over 5 per cent, CII maintains that Africa is fast becoming a sought after destination for Indian businesses, both in terms of trade and investment.
India-Africa bilateral trade
India’s trade with Africa has increased from $20 billion in 2006-07 to $55 billion in 2011-12. Bilateral trade, the release said, is expected to reach $90 billion by 2015.
During its stay in South Africa, the delegation will visit the AIDC Manufacturing and Auto Hub in Pretoria and have an interactive session with ARCAY Bursons-Marsteller with a particular focus on the mining sector.
In Zambia and Kenya, too, the mission members will meet and interact with Cabinet-rank secretaries, Indian High Commissioners, chambers of commerce officials, representatives from financial institutions, legal firms to find clarities on legal framework and tax policies.
In Lusaka, Zambia, the delegation will meet the members of the Investment Promotion Board and Indian Business Council of Zambia.