‘Zim, India ties unbreakable’

Zimbabwe has participated in the 18th edition of the Confederation of Indian Industry (CII)-Exim Bank Conclave on India-Africa Growth Partnership to demonstrate its determination to engage with the Indian government and its business sector for the benefit of citizens.

Vice President Dr Constantino Chiwenga said this yesterday in his address during the opening session of the India-Africa conference here.

The conference is running under the theme, “India-Africa growth partnership: Creating shared futures”.

VP Chiwenga said Zimbabwe has various investment opportunities that Indian and other global investors can take up in the mining, agriculture, manufacturing, and tourism sectors, among others.

“Our presence here signifies Zimbabwe’s eagerness to engage with both the Indian government and the business sector in order to chart sustainable and mutually beneficial economic links,” he said.

“As Zimbabwe, we are participating and exhibiting under the theme, ‘Visit, Invest and Trade Zimbabwe’, which resonates with this year’s conclave theme.”

VP Chiwenga said investors can invest in agriculture and mining, where gold, lithium, platinum, and diamond mining present lucrative opportunities.

Agriculture has investment opportunities in crop production, livestock farming, and agro- processing.

“We, therefore, look forward to fostering value chains in agriculture and food processing. Speaking of the tourism sector, Zimbabwe is the epitome of African beauty and perfect destination for an unforgettable trip.The country is home to a wide range of attractions including, among others, the majestic Victoria Falls (the smoke that thunders) one of the seven Natural Wonders of the World, Matopo Hills where the remains of the ambitious imperialist Cecil John Rhodes are interred, and the Great Zimbabwe (House of Stones) from which the country derives its name,” said VP Chiwenga.

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Zimbabwe and India have a strong historical link, he said, with one of the Princes of the ancient Great Zimbabwe Kingdom, Miguel, being credited as the founder of the Catholic Church in India.

Miguel’s remains are understood to be buried in Goa, India, and the site is a protected shrine.

In the energy sector, VP Chiwenga said, opportunities abound particularly in electricity generation.

He said Zimbabwe is proud to be associated with International Solar Alliance, an action-oriented, member-driven, collaborative platform for increased deployment of solar energy technologies to bring energy access, ensuring energy security, and driving energy transition in its 123 signatory countries.

The International Solar Alliance was founded by Indian Prime Minister Narendra Modi and former France President Francois Holland in 2015.

VP Chiwenga said through the International Solar Alliance, Zimbabwe looks forward to “deep collaboration in the utilisation of renewable energy”.

With the mantra ‘Zimbabwe is open for Business’ espoused by President Mnangagwa, Harare offers various incentives to investors who elect to take up opportunities in the country.

Some of the incentives include duty rebates and tax exemptions that are differentiated depending on whether one invests in one of the five designated Special Economic Zones (SEZs) or outside the Zones.

To reduce bureaucratic bottlenecks for potential investors, the Government has established the Zimbabwe Investment and Development Agency (ZIDA), a one-stop investment and services centre that handles all investment-related matters.

VP Chiwenga said many Indian companies such as Varun Beverages and Surface Wilmer, have invested in Zimbabwe in sectors including beverages, edible oils, retail, agriculture, textiles, electrical gadgets, and technology.

“I implore more Indian businesspeople to consider Zimbabwe as a viable and favourable investment destination in Africa,” he said.

Zimbabwe enjoys cordial bilateral relations with India, which has seen the extension of several loans especially in electricity generation.

It is interested in deepening economic relations with India in the quest to attain an upper middle income society by 2030.

Last year, Zimbabwean exports to India were US$10,4 million, from US$5,7 million in 2021, while imports from India were US$228 million, from US$188 million in the year earlier.

VP Chiwenga invited Indian businesspeople to join the Zimbabwe Country Focus Session scheduled for this afternoon.

India is one of the world’s largest suppliers of affordable and effective pharmaceutical products, and is now commonly known as the “Pharmacy of the World”.

And VP Chiwenga wants India’s pharmaceutical sector to increase its visibility and reinforce its footprint on the African continent, especially in Zimbabwe.

Vice-President Dr Constantino Chiwenga

Zimbabwe has gotten a lot of support from India in the health sector, including during the Covid-19 pandemic when it got 75 000 doses of the vaccine.

India has also availed computer numerical control machines, loan facilities for the rehabilitation of thermal plants and water reticulation systems which are key enablers for the manufacturing sector.

Minister of External Affairs for India, Shri Muraleedharan, said they will continue to work with Africa, adding that their ties with Africa were “not transactional, but represent the solidarity of the shared struggle”.

“Africa therefore occupies an important place in the industrial policy (of India),” said Minister Muraleedharan.

India has worked well with African countries from the time they were under colonialism.

Like a number of African countries including Zimbabwe, India was also colonised by the United Kingdom, and got its independence in 1947.

It has remained keen to cooperate with African countries in the development discourse.

Trade between Africa and India has grown exponentially in the last few years, amounting to US$89,5 billion in the 2021 to 2022 financial year, compared to US$56 billion in the previous year.

In an interview on the sidelines of the event, Information, Publicity and Broadcasting Services Minister, Monica Mutsvangwa, said Zimbabwe was excited to be part of the over 40 African countries and 22 non-African countries participating in the India-Africa conclave.

“We all know that Africa is the most attractive place to invest in the world because of the advantages which we have.

“We are endowed with natural resources; we are also one of the continents with a lot younger people so this is the place where everyone is looking at investing,” said Minister Mutsvangwa.

Over 30 Ministers from Africa, 800 delegates from Africa and another 800 from across the world are attending the conclave.-chronicle