Indians to explore business opportunities in Zim

two countries move to strengthen bilateral economic and trade relations.
The delegation will arrive on September 19 and leave two days later after attending a one-day conference, dubbed “Doing Business in Zimbabwe: Investment Opportunities and Challenges” to be held on September 20.
First secretary at the Indian Embassy in Zimbabwe Mr Mukesh Kumar said the delegation is drawn from a cross-section of companies from the vast Indian economy.
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 is forecast to grow by 8 percent this year.
Mr Kumar said the visit follows the realisation that Zimbabwe had vast opportunities that India could exploit and transform this economy within five years. The delegation will be made up of players from the energy, road infrastructure, information technology, agriculture, mining and pharmaceutical industries among other sectors.
“I wish to inform you that a large delegation will be visiting Harare, Zimbabwe,. for exploring business and investment opportunities in Zimbabwe. The Minister of State, Mr Jyotiraditya Scindia, will lead the delegation for commerce and industry,” he said.
The delegation will meet Minister of Industry and Commerce Professor Welshman Ncube, Minister of Mines and Mining Development Obert Mpofu and Minister of Agriculture, Mechanisation and Irrigation Development Dr Joseph Made.
Economic Planning and Investment Promotion Minister Tapiwa Mashakada will also attend the business and investment conference.
The ministers will join representatives from various local business associations that will grace the conference scheduled to take place at a local hotel.
Mr Kumar said Indian businesses were willing to invest in Zimbabwe, but they needed first-hand accounts of the available opportunities and challenges.
He said India was trying to break the negative image of Zimbabwe that has been portrayed in the hostile international media.
The latest delegation will be the second from India in 14 years after that of Chamber of Commerce of India that visited last year.
Mr Kumar emphasised the need for Zimbabwe to ratify the bilateral investment protection and promotion pact agreed with India in 1992. India has ratified the Bippa and its president has since signed it.