admininvestment relations between the two countries.
First secretary at the Indian Embassy Mr Mukesh Kumar confirmed a delegation of Indian businesspeople was expected in the country last night.
It would join local firms, Government ministers, business groups, investment promotion agencies and other stakeholders for the daylong conference.
This is the first trade and investment conference hosted locally between the two countries. Its theme is: “Doing business in Zimbabwe; Investment Opportunities and challenges”.
Mr Kumar said Minister of State for Commerce and Industry Mr Jyotiraditya Scindia would lead the Indian delegation.
Permanent secretary for Economic Planning and Investment Promotion, Dr Desire Sibanda on Friday said the conference would help enhance the cordial economic and political relations between the two countries.
“The visit by the Confederation of Indian Industry from one of the fastest-growing economies in the word, shows the good economic and political relationship between the Zimbabwe and India,
“The conference will provide a platform for networking of Zimbabwean and Indian companies and an exchange of ideas and business opportunities,” said Dr Sibanda
Mr Kumar echoed these sentiments, adding the initiative would see the two countries forging stronger economic ties.
“The business (and investment) conference is intended to establish and foster trade relations between the two countries, ” he said.
“The conference will be attended by top Zimbabwean companies and approximately 26 large Indian companies in mining, transport, infrastructure, pharmaceuticals, financial services among others.”
Line ministries will deliver presentations on investment opportunities in Zimbabwe, while Indian firms which have invested in Zimbabwe will also give testimony to that end.
He said that about 200 top Zimbabwean companies were expected to participate alongside local business groupings such as ZimTrade, Zimbabwe National Chamber of Commerce, Confederation of Zimbabwe Industries and the Industrial Development Corporation.
The Zimbabwe Investment Authority, Zimbabwe Miners Federation and Harare Chamber of Commerce, among others, will also participate at the one-day event. Indian firms are seeking to partner with local companies in various sectors of the economy such as mining, agriculture, health, automobile, manufacturing and ICT.
“India is committed to providing assistance to Zimbabwe (companies) in the form of investment, capacity building and technical assistance,” said Mr. Kumar.
India is the world’s fourth biggest economy (ranked 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 by end of this year.
Industry and Commerce Minister Welshman Ncube, Minister of Agriculture, Mechanism and Irrigation Development Dr Joseph Made and the Minister of Energy and Power Development Elton Mangoma are expected to address today’s conference.
Online Reporter