India to foray in Zambia's industrial crops

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New Delhi, Sept 17 (UNI) India is interested in making investments in Zamia's industries-based crops such as cotton, sugar, soya bean and groundnuts.

Stating this during an interaction with Zambia's Minister for Trade, Commerce and Industry Felix C Mutati here today, Commerce and Industry Minister Kamal Nath said both sides agreed for cooperation in capacity building in the field of agro-processing and development of agro product markets.

Lauding the multi-facility economic zone created by Zambia development agency for Indian companies to set up manufacturing and services industries, Mr Nath said India has a lot to offer for infrastructural development in Zambia, particularly in energy, mining, agriculture, commercial building and road transportation sectors.

India has so far made an investment of two billion dollars in Zambia, particularly in the copper mining sector. Capital inflow is also taking place in banking, health and education, an official statement said.

Mr Nath hoped that Zambia would convene the third meeting of India-Zambia Joint Trade Committee at the earliest to further strengthen bilateral trade and economic relations. The second meeting was held in New Delhi in 2006.

Bilateral trade between the two countries in 2007-08 was 206.96 million dollars.

The meeting was attended by Mr Ajai Shankar, Secretary (DIPP), senior officials from both the countries and representatives of CII and FICCI.

UNI SAA SR DS1430

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