Diplomats woo Punjab industry to invest in Africa

Posted By: Pti
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Amritsar, Dec 2: Botswana High Commissioner Lesego Ethel Motsumi on Friday said the impressive growth rate of 9.6 per cent in the second quarter in 2011 is indicative of the conducive trade and investment scenario in Botswana.

She said while interacting with the industry members during a seminar on 'Business Opportunities in Africa', organised by PHD Chamber.

Stating that Botswana was looking forward to be a more strategic partner with India, Motsumi informed that share of Africa in India's export increased from 4.1 per cent to 5.8 per cent between 2000-01 and 2009-10.

She shared that petroleum crude and products are major exports to India.

During 2011-12 (April-July), she said, India's exports to Africa grew by 54.7 per cent as compared to the same period in the previous year, while imports during the same period grew by 31.1 per cent.

Ghana Minister Counsellor Akousa Badoo said that the major imports from India are textile materials, garments, agricultural equipment, transport equipment, pharmaceutical products, consumer goods, food grains, machinery and other capital equipment and construction materials.

Badoo called on the delegates to invest in Ghana. She shared that Ghana is a stable economy with a privileged geographical position and climate.

"There has been a tremendous growth in demand from African countries. Kenya, Uganda, Tanzania, Eritrea, Ethiopia, Senegal, Nigeria, South Africa, Zimbabwe, Zambia, Mozambique, Burkina Faso and Congo have emerged as new markets.

In fact, Africa, all of a sudden, has emerged as the market of tomorrow," said R S Sachdeva, Co-Chairman, Punjab Committee, PHD Chamber.


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