Mozambique is a southern African nation whose long Indian Ocean coastline is dotted with popular beaches like Tofo, as well as offshore marine parks.
Maputo is the capital of East Africa’s Mozambique, it is an Indian Ocean port with preserved Portuguese colonial architecture. The currency is Metical and the official language spoken is Portuguese.
India and Mozambique enjoy close, friendly relations built upon traditional links dating back to the pre-colonial period. Traders and merchants from the Indian subcontinent came to Mozambique centuries back, even before Vasco da Gama set sail for Africa and India. These traditional links have grown from strength to strength over the years as a result of which India and Mozambique today find a lot of common ground to cooperate with each other for their mutual benefit.
Indian Companies in Mosambique
As per the investment data released by Mozambique’s Investment Promotion Centre (CPI), the approved investment by India cumulatively from 2004 to June 2014 is US$129.35 million. India is the 8th largest investor in Mozambique, with the EU, Portugal & South Africa occupying the first three places, in 2012.
Some of the major Indian companies who have investments in Mozambique are Tata Steel, JSPL, JSW, Essar, Midwest Africa, Coal India Ltd, etc in coal mining, Damodar Ferro in iron ore mining, Essar in port development, and Pure Diets, Rajarambapu Group, HK Jalan Group and Asian Tea company in agriculture.
India’s exports to Mozambique
Petroleum products, pharmaceuticals, transport equipment, bicycles, metals, cotton yarn, machinery, iron and steel, chemicals, fertilisers, electronic goods and cosmetics.
India’s imports from Mosambique
Coal, pulses, raw cashew, coconut, metal ores and scrap metal. India is one of the major importers of coal from Mozambique.
Agribusiness and Agro-Industry
Small & Medium Enterprise
In developing countries like Mozambique, Small and medium enterprises (SMEs) offer a significant opportunity and pathway out of poverty. The SMEs are responsible for 86% of new employment; a number of factors prevent SMEs from reaching their growth potential, this includes, for example, weak organizational capacity and financial barriers (i.e. access to capital, cash flow bottlenecks, and limited financial management). Mosambique is working towards providing the SMEs as much facilities that can be done.
Chamber of Commerce / Industrial Associations
Mosambique Chamber of Commerce, Maputo
ACIS – Association of Commerce, Industry, Services, Maputo
CTA – The Confederation of Business Association, Maputo
According to DGCIS Kolkata figures, bilateral trade between India and Mozambique during 2014-15 was US$ US$2396.58 million with Indian exports at US$2070.84 million registering an increase of 64.72% and Indian imports at US$325.74 million registering an increase of 11.19% over 2013-14.