The Hindu : Karnataka / Bangalore News : African countries invite investment from India in infrastructure, tourism

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Wednesday, Aug 06, 2008
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African countries invite investment from India in infrastructure, tourism

Special Correspondent

— Photo: K. Gopinathan

Capital talk: (From left) R. Vaidyanathan, Chief Regional Manager, Indian Overseas Bank, Bangalore; Amon Mwamanenge, High Commissioner, High Commission of Tanzania, New Dellhi; Kodzo K. Alabo, Minister, High Commission of Ghana, New Delhi; and Zarina Shaikh, Regional Manager, ECGC, Bangalore, at the seminar in Bangalore on Tuesday.

BANGALORE: African countries have urged India to export capital to Africa in addition to the normal exports. The call was given by the High Commissioner (in-charge) Tanzania, New Delhi Amon Mwamanenge here on Tuesday.

He inaugurated the one-day seminar on business and investment opportunities organised by the Engineering Export Promotion Council, Bangalore chapter.

Mr. Amon said India was one of the first countries in the world which had trade relationships with Africa as early as the 14th century.

At present, the exports from India were confined to material items like agricultural machinery, commercial and passenger vehicles and heavy engineering items.

He said Tanzania was happy that Indian industry and trade organisations were showing interest in the African continent, but at this point of time Tanzania was more interested in capital investment from India.

Climate for investing

He said Tanzania can provide manufacturing facilities, tax holidays, and ensure availability of raw material, power and other clearances. He said at present, Tanzania, in particular, and the African continent in general, encourage production units which can generate employment, utilise natural resources and spur trade and commerce.

In his paper, the Minister, High Commission of Ghana at New Delhi Kadzo K. Alabo said Ghana was now an open economy and investment opportunities were there in infrastructure projects like roads, bridges, railway, airports and harbours.

Ghana

Ghana also has opportunities for investment in industry, tourism, higher education, Information Technology and Bio-Technology.

He said, like all other African countries, the resources were in high volume in Ghana. He said if Indian technology could be put to the right use, India and Ghana could reap rich dividends.

Other countries that participated in the seminar included, Kenya, Egypt, Nigeria and South Africa.

In their projection document for the Indian sub-continent, it is mentioned that they would invite Indian investment and technical expertise in transport, railways, aviation, small industries, and several social sector programmes like women empowerment, child health management, water management and education.

Regional Director of the Engineering Export Promotion Council, Chennai, M. Ganesan, earlier outlined the trade relations between Africa and India.

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