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India eyes investment in Zim

27 Nov, 2018 - 19:11 0 Views
India eyes investment in Zim Raj Modi

eBusiness Weekly

Stanford Chiwanga in New Delhi
India is prepared to invest big in all of Zimbabwe’s economic sectors and has challenged the new government led by President Emerson Mnangagwa to swiftly submit projects so that the world’s sixth-largest economy can assist the country to achieve rapid economic growth.

In a meeting on Saturday at his residence in New Delhi, India, the Minister of Commerce and Industry, Suresh Prabhu told the Zimbabwean Deputy Minister of Industry and Commerce, Raj Modi that India wanted to contribute heavily to Zimbabwe’s economic turnaround.

“Your Vice President (Constantino Chiwenga) was here some time and I told him the same thing I am telling you now. India believes that Zimbabwe is destined for greatness. I have never been to Zimbabwe but I am coming there soon. You have a new government led by President Mnangagwa. We heard his message that Zimbabwe is open for business,” he said. “Our message to Zimbabwe is tell us what you want to do and we will support you. India is a huge economy and we are very much interested in Zimbabwe. Your country is blessed with all the minerals in the world. You have enough water. You have land. You have educated people. You have natural resources. You have the infrastructure. So nothing can stop you from being one of the biggest economies in the world.”

Prabhu said India was not only interested in bilateral trade but to invest in Zimbabwe. “We do not want to just export to you and import from you. We want to set up companies in Zimbabwe. We want to add value to your natural resources. We want to help you rebuild your transport infrastructure. We want to invest in energy. We want to invest in pharmaceuticals. We want to manufacture in Zimbabwe.

“These are not empty words, we are serious. So tell us what you want from us and we will deliver. India is very much interested in Africa and Zimbabwe is one of the top countries we want to have strong economic ties with because it is a rich country. Our government is relatively new and we are doing things differently from the previous so believe us when we say we want to invest in Zimbabwe,” he said.

Modi told Prabhu that Zimbabwe will take up India’s offer immediately.

“Indeed we are a new government and we are in need of investments to revive our country’s economy. We cannot do it alone. I am here in India because we believe that we can work well with your country. We also want to learn from India, we want to know how you managed to turn around your country’s fortunes.

“We are definitely taking up your offer to help us. India has one of the largest railway systems in the world, we need your help to set a new railway system. In fact you are free to invest in all the sectors of the economy. We will submit development projects for investments soon for your consideration. Our country has been through a lot but it is emerging from the dark and we are grateful that India is ready to assist us to reach the light,” said Modi.

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