Tuesday, May 21, 2024

Indian investors move to bolster ties with Botswana

The Confederation of Indian Industry (CII) has shown interest in establishing and conducting robust business with Botswana.

Speaking at a conference hosted by BEDIA, leader of CII Business delegation, Arun Prabhat Mull, said India-Botswana relations have always been cordial and mutually beneficial.

“Now the time has come for us to step up our economic relations to the level that makes a greater positive impact on our respective economies,” he said.

Mull said the Indian Government and industry have all along maintained a keen focus on economic engagements in Southern Africa.

“We strongly believe that robust partnerships with government of Botswana and the industry are integral to this regional engagement,” he said.

“We believe that Indian investment would be particularly welcome in the areas of physical infrastructure development, mining operations, diamond beneficiation, rail infrastructure, energy development and agriculture.”

He noted that the Indian ITES has taken cognizance of the fact that Botswana is an attractive destination for business process outsourcing (BPO) businesses keeping in view of the infrastructure, financial and human resources that are available here.

“I am sure the coming days will see key IndiaÔÇôBotswana partnerships in this domain as well,” he said.

Mull noted that the strong pitch for Indian investments in the country’s designated wildlife development areas by Botswana Tourism Organization could take a form of joint ventures with local partners who have been given the land rights to develop the sanctuaries and wildlife ecosystems.
Furthermore, he highlighted that Indian private equity, venture capital funds and other investment arms are also assessing opportunities in funding businesses in Botswana.

The Indian economy has once again set sights on double digit GDP growth; having tided over the economic slowdown period.

The Reserve Bank of India has forecast a healthy 8 percent GDP growth in 2010-11. Mull revealed that the Indian industrial production has picked up great momentum, having grown by 17.6 percent in April 2010 boosting the prospects of achieving 8.5 percent economic growth in 2010-2011.
He revealed that currently an Indian company has started manufacturing operations in Botswana with about 120 workers plus high degree of automation.

“Botswana will witness Indians increase their diamond manufacturing capabilities and jewellery manufacturing operations here thus adding more value to local diamonds in Botswana,” he said.”Even as the Indian economy is preparing for sustained high growth, we believe that Botswana is at the threshold of a big growth story.”

It is hoped that the Indian industry will be your partner of choice in this growth experience.


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