Indian delegation to visit Zim

This visit follows the Bilateral Investment Promotion and Protection Agreement which both countries have ratified to aid co-operation.
India’s Minister of Industry, Commerce and Textiles, Mr Anand Sharma, will lead the delegation, scheduled for January 8-12.

The visit follows a similar one last year by the Confederation of Indian Industry led by Minister of State for Commerce and Industry, Mr Jyotiraditya Scindia.
The company delegates will meet senior Government officials and representatives of the private sector to explore areas of co-operation and investment.

Secretary for Economic Planning and Investment Promotion Dr Desire Sibanda said the delegation would comprise representatives from a cross-section of business.
“The delegation comprises representatives from various (economic) sectors inclusive of agriculture, information technology,

mining, finance, manufacturing, energy and small to medium enterprises among others,” said Dr Sibanda.

He said the tour was a follow-up to one made in September last year when an Indian delegation toured the country and held a joint business conference with their Zimbabwean counterparts.
The main objectives include facilitating partnerships, providing a platform for leaders of private and public sectors to discuss opportunities. An investment conference is to be held under the theme “Partnership for Growth”.

For the second year running Zimbabwe and India will hold a business conference on January 10 to be attended by Government ministers and captains of industry. The tour will also enable Zimbabwe to make available information on priority sectors for investment as outlined in the Medium Term Plan and to appraise the Indians on investment and business conditions in Zimbabwe.

Dr Sibanda said through the MTP, Government was committed to raising foreign direct investment from 4 percent to 29 percent of Gross Domestic Product.
“The ministry is intensifying its international investment promotion tours to showcase Zimbabwe as a viable investment destination in order to meet this target,” he said.

Already, India has offered Zimbabwe a market for its diamonds at a time other international stakeholders have been clamouring for the blacklisting of the gems.

India is the world’s fourth biggest economy (ranked by purchasing power parity as of July 2011) after the United States, China and Japan. The US$4 trillion economy was forecast to grow by 8 percent by the end of last year.