Ambassadors assure support to Indian MSMEs to do business in Africa and benefit from AfCFTA
“Africa is keen to strengthen trade and business relations with India for our shared prosperity. India is our strategic partner in industrialisation and economic development. Together, we can promote trade, investment, joint venture, technology exchange, tourism and education. I invite Indian companies to explore trade and investment opportunities in Zimbabwe, which has abundant reserves of platinum, chromium, coal, gold, lithium, diamonds and other minerals. Already, Indian companies have invested in Zimbabwe’s mining sector. I encourage and support Indian companies to explore investment in renewable energy, manufacturing, agriculture and services sectors. Especially, we need India’s partnership in overcoming drought and making our agriculture sector drought resilient. Both countries can work on irrigation projects and irrigation equipments,” said H.E. Ms. Stella Nkomo, Ambassador, Embassy of the Republic of Zimbabwe, New Delhi at the African Ambassadors’ Roundtable at WTC Mumbai. The Roundtable was organised as part of the 5th World Trade Expo by World Trade Center Mumbai and All India Association of Industries.
H.E. Ms. Nkomo emphasized on deepening India-Africa collaboration in the MSME sector. She remarked, “We brought 15 MSMEs to explore collaboration with Indian MSMEs recently and we are keen to create a network of MSMEs for mutual collaboration. Both countries can launch a database of MSMEs for sharing knowledge, best practices and market opportunities for trade and investment.
H.E. Ms. Nkomo also highlighted India-Africa cooperation in information technology sector. Digital transformation increases productivity but also creates risk of data security, cyber security, where both the regions can collaborate. This is not only an opportunity but an imperative. We need to leverage our strengths, foster collaboration and innovation for a better world.
H.E. Ms. Margaret Lucy Kyogire, Deputy Head of Mission, Uganda High Commission, New Delhi informed, “We are an agriculture country with huge mineral resource. All we need is Support from India for value addition and exports. Uganda has many culturally significant products which we are unable to export due to short shelf life. India can import avocados, potatoes and other agro products from Uganda; India can support Uganda to transform its huge gold reserves and we need Indian partnership in converting this gold into jewellery and ornaments. Indian MSMEs can invest in Uganda to manufacture and add value to agriculture products. Uganda has increased access to power from 6% of the population to 70%.
H.E. Ms Bizunesh Maserati, Charge d’affaires and Deputy Head of Mission, Deputy Head of Mission, Embassy of the Federal Democratic Republic of Ethiopia, New Delhi informed, “We have strong relationship with India. More than 650 Indian companies have invested in Ethiopia. Ethiopia has identified trade in healthcare, pharma, food & agro processing, automobiles as focus sectors for bilateral collaboration. Food processing offers promising opportunity for Indian investors to add value to agro products. We have vast arable land for cultivation. Infrastructure, tourism, information and communication technology, construction, healthcare and, mining are sectors open for foreign investment in our country. Both countries are negotiating agreement on healthcare and traditional medicine to promote trade and investment in these sectors.”
Mr. Conrad Nana Kojo Asiedu, First Secretary – Trade, Tourism and Culture Officer, Ghana High Commission, New Delhi suggested that Indian MSMEs can partner with the industry in his country based on mutual understanding and shared ideas in food processing, healthcare, agriculture, information technology and infrastructure development. He further said, “Ghana is the entry point for most traders and investors to foray into the African market by benefiting from AfCFTA. We invite investments with open arms. Manufacturing, IT, renewables are some of the focus sectors for Ghana. We are looking at sectors such as mining, health care, pharmaceutical, technology, IT, digitalisation, renewable energy, wind and solar power.”
In his Special Address, Mr. R.K. Mishra, IRS, Additional Directorate General of Foreign Trade (DGFT), assured support of DGFT to all exporters to enhance trade relations with Africa. He informed, “All DGFT processes have been digitalized. We are here to provide services online, with dedicated portals for authorisation for duty-free imports, issuing export obligation discharge certificate etc. Productivity of government officials has increased thanks to digital revolution. Africa can also leverage technology to increase productivity of government departments.”
H.E. Mrs. Naglaa Essam Eldin Elzawahry, Consul General, Consulate General of Arab Republic of Egypt in Mumbai remarked, “India and Egypt have relationship cherished for the last 7,000 years. We invite Indian companies to explore investment opportunities especially in infrastructure sector, national road network, port and maritime transport, tourism complexes, renewable energy, besides availability of raw materials. It introduced various economic reforms.”
Ms. Elzawahry invited Indian industry to partner in the efforts of her country’s industrialisation and modernisation plan in energy facilities, new cities, economic zones to become the manufacturing hub of the region. She further added, “We have set bilateral trade target of USD 12 billion in next five years. We are the founding member of AfCFTA and also the member of 21 country COMESA with 580 Million people. We ensure equal opportunities and fair treatment for foreign investors. Green energy is a major focus area and we have given policy thrust on producing ethanol, green hydrogen and green ammonia.”
Egypt is keen to partner with Indian companies in hotel, hospitality, tourism, cultural industry, education, agriculture land reclamation, oil and gas, automobile, petrochemical, chemicals, communications and IT.
Other areas of collaboration are: automotive, tyres, cotton yarns, printing papers, tin plates, electrolyte sheets, oil and gas, petrochemicals, green energy and so on. Indian investors can explore investment in economic zone and logistics hub in Suez Canal as it is a gateway to Middle East, Africa and Europe, the consul general added.
Speaking on this occasion, Ms. Monita Carolissen, Consul Political, Consulate General of the Republic of South Africa, Mumbai informed, “South Africa is keen to partner with India in healthcare and pharmaceuticals to improve access to high quality healthcare infrastructure for our people. Other areas of collaboration are paints, mining, automotive and green energy. The African Continental Free Trade Area (AfCFTA) will increase productivity, diversify trade basket and promote intra-African trade. I invite Indian companies to make use of this agreement. The Trade and Industry department at South Africa Embassy in India can handhold Indian MSMEs in establishing and strengthening presence in Africa.”
Ms. Carolissen further informed South African litchies and avocados have already made inroads in the Indian market.
Earlier in his welcome remarks, Dr. Vijay Kalantri, President- All India Association of Industries (AIAI) and Chairman, MVIRDC World Trade Center Mumbai pointed out, “Indian investors should consider African continent seriously as India has USD 179 billion untapped export potential in the 45 African countries. Africa is a strategic partner of India and our country is the second largest lender to Africa. The objective of this Roundtable is to discuss ways to double bilateral trade to USD 200 billion, from the current level of USD 83 billion. EXIM Bank may increase Lines of Credit to promote two way trade and investment with Africa.”
Dr. Kalantri suggested that the African continent may introduce a common visa on the lines of Schengen visa to promote tourism and business. India can also explore trade settlement in local currency to improve ease of trade and investment with the African continent.”
Dr. Kalantri advised Indian industry to look at African market seriously for doing business in mining, oil and gas, agro processing and so on. He recommended, “We should start with choosing a few sectors and focus on them for mutual success. India exports hardly USD 1.6 billion worth of textile and apparel to Africa, which has potential to increase in future as Africa imports USD 20 billion worth textile and apparel every year from the world.”
Ms. Rupa Naik, Executive Director, MVIRDC World Trade Center Mumbai proposed vote of thanks for the event. Ms Naik suggested that African countries can consider introducing one visa, one currency and one law for the entire continent to stimulate trade and investment with India and other countries. World Trade Center Mumbai can support African trade missions in organising an African exhibition in future to promote promote two-way trade.
The roundtable was moderated by Prof. Dr. Renu Modi, Professor and Former Director – Centre for African Studies, University of Mumbai. Dr Modi remarked, “Africa has emerged as the new frontier of the world. Africa is the powerhouse which offers immense opportunities for partnership with rich natural resource advantage and favourable demographics. India is the first developing country to provide non-reciprocal duty-free market access to African Least Developed Countries. India has invested in drinking water, irrigation, sugar processing, textile, technology parks, etc. in Africa. India-Africa trade has grown 12-fold since 2000 to USD 83 billion last year. African countries are keen to partner with India in agro processing, dairy development, healthcare sectors. Africa has diversified their economies to produce value added products, generate employment, exports and earn foreign exchange reserves. Indian MSMEs can share manufacturing technologies and best practices with Africa for mutual benefit.”
Ambassadors and other senior diplomatic corps from Zimbabwe, Uganda, Ethiopia, Ghana, South Africa, Egypt and Ethiopia invited Indian MSMEs to invest in Africa by benefitting from African Continental Free Trade Agreement (AfCFTA), which is the largest trade agreement since the establishment of WTO.
During the event, Skyline Technology shared information about its visa verification technology for visa processing, including e-visa to promote business, tourism and education exchange among countries.
Dr. Vijay Kalantri, President All India Association of Industries and Chairman, MVIRDC World Trade Center Mumbai felicitating H.E. Ms. Margaret Lucy Kyogire, Deputy Head of Mission, Uganda High Commission, New Delhi at the African Ambassadors’ Roundtable as part of 5th World Trade Expo.
Dignitaries releasing White Paper on “Strengthening India-Africa Economic Relationship” at the African Ambassadors’ Roundtable during World Trade Expo. (From left to right): Ms. Aakruti Bagwe, Director- Operations, WTC Mumbai, Ms. Rupa Naik, Executive Director, WTC Mumbai, H.E. Mr Peter Hobwani, , Deputy Head of Mission, Embassy of the Republic of Zimbabwe, New Delhi, H.E. Ms. Margaret Lucy Kyogire, Deputy Head of Mission, Uganda High Commission, New Delhi, Mr. Conrad Nana Kojo Asiedu, First Secretary – Trade, Tourism and Culture Officer, Ghana High Commission, New Delhi, Prof. Renu Modi, Professor and Former Director – Centre for African Studies, University of Mumbai, Dr. Vijay Kalantri, President, All India Association of Industries (AIAI) and Chairman, WTC Mumbai, Mr. R.K. Mishra, IRS, Additional Directorate General of Foreign Trade (DGFT), Mumbai, H.E. Ms. Bizunesh Meserat, Charge d’affaires and Deputy Head of Mission, Embassy of the Federal, Democratic Republic of Ethiopia, New Delhi, H.E. Mrs. Naglaa Essam Eldin Elzawahry, Consul General, Consulate General of Arab Republic of Egypt in Mumbai, Ms. Monita Carolissen, Consul Political, Consulate General of the Republic of South Africa, Mumbai.