NewZNew (Feature) : Africa holds a great business opportunity for the Indian agro-business sector, as it is a viable source combining a stable market, huge arable lands and a positive business atmosphere. This was stated by HE Mr Abdoulie Jobe, Minister of Trade, Industry, Regional Integration and Employment, Republic of The Gambia while addressing a Session on Africa – The Next Frontier organized on the fourth and final Day of the 11th CII Agro Tech. He said, “Gambia has huge business opportunities, and we invite India to do business in Gambia.”
Elaborating on the business prospects in Gambia, HE Mr Jobe said that going forward modernizing the domestic agri sector, promoting agro processing, creating value chain and generating more job opportunities will be the focus of Gambia in coming years. He emphasized that the investment opportunities are immense in Gambia as the country provides highly stable economy and attractive fiscal incentives to the investors. India is a highly advanced agri country and Gambia looks towards Indian companies to set base in the country and better the agri business by initiating commercialization and mechanization. HE My Jobe added that the setting up of Indian agro industries in Gambia will help better the agri business, farming and human capital value of both the countries.
Commenting on the takeaways of the recent Africa-India Forum, the Minister said that both the countries have agreed on a pact for common knowledge sharing on aspects of technology, resources and R&D Developments. Via the recently established Africa-India Vocational Centres both the countries will encourage skill developments and entrepreneurship training that will nurture long term public-private partnerships. The Minister also said that Gambia is offering prompt trading facilities to the investors wherein they can register their business within 24 hours and start operations immediately.
Addressing the gathering on emerging business associations between Gambia and India, H E Mr Dembo Badjie, Ambassador of The Gambia to the Republic of India said that the support of CII in encouraging the Gambian agri sector thorough initiatives like Agro Tech is much appreciable. The Ambassador said that he looks forward for better business policies which highlight and promote the importance of the agri-business in India and Africa.
Delivering a special address, HE Mr Samuel Panyin Yalley, High Commissioner, Ghana High Commission said that Africa is amongst the most viable sources for agri-business in the world carrying immense investment opportunities. Talking about the availability of huge arable lands in Ghana, the High Commissioner expected larger investments from India to promote commercial agriculture and farm mechanization in the region. Inviting Indian investors, HE Mr Yalley also defined a future vision that recommended generation of seeds and production of agri equipments in Ghana which can then be supplied all over the world by Indian businessmen from Ghanaian lands.
In his address on Africa being an opportunity-rich market, Mr Mamadou Baba Sylla, Vice-President, Mali Chamber of Commerce and Industry said that Mali offers great agri-business opportunities and informed the panel that the country will sign a memorandum with the Indian government in January 2016. Via this partnership both the countries will work together in order to create lasting business relationship that supports the agri-business in both the countries
At the session, Mr Siddharth Gopalkrishnan, McKinsey & Co delivering a Presentation on Business Opportunities in Africa highlighted the economical growth and importance of Africa in the world economy and the thrust of the region to be one of the biggest economies by 2025. He stated that the commodity boom, political stability and ongoing economic reforms are some of the key factors, which drive the growth in Africa, that the Indian investors should take note for committing key investments in the region.
Earlier while delivering the welcome remarks, Mr Ashok Sharma, Chief Executive, Mahindra & Mahindra Ltd highlighted the fact that by 2025, nearly 40% of world population will be in Africa, which pushing a huge demand of food resources will offer excellent agro business opportunities in the region.