Wesbank

Botswana, India boost business ties

SHARE   |   Monday, 03 April 2017   |   By Staff Writer
Botswana, India boost business ties

Biggie Bulale, the Assistant Minister of Investment, Trade and Industry says Botswana and India have signed a number of bilateral agreements in several sectors ranging from education, agriculture to Defence and the two continue to enhance those relations. Butale said this on Friday during the Business to Business meeting between Engineering Exports Promotion Multi Product Trade delegation from India and local business people. He said their visit will provide platform for small enterprises, stating that to fulfill the goal of vibrant micro and small enterprise sector there should be a sustainable technology driven and commercially viable target export market with strong manufacturing cater. India’s High Commissioner to Botswana, Dr Ketan Shukla said India’s manufacturing sector has the potential to touch US$1 trillion by 2025. He said there is a potential for the sector to account for 20-30 percent of that country’s GDP and create 90 million domestic jobs by the same year. “Business conditions in the Indian manufacturing sector continue to remain positive,” said the Indian envoy. The sector is said to have emerged as one of the high growth sectors in India buoyed by Prime Minister Narenda Modi’s ‘Make in India’ initiative which is aimed at putting India on the world map as a manufacturing hub. “India is expected to become the fifth largest manufacturing country in the world by the end of year 2020,” he said.


Foreign Direct Investment (FDI) inflows in India’s foreign manufacturing sector have, according to Dr Shukla, grown by 82 percent year-on-year to $16.13 billion during April-November 2016. He said his country has become one of the most attractive destinations in the manufacturing sector and some of the world famous brands such as Apple, Coca Cola, Huawei and Lenovo have set base there. Dr Shukla said the government of India has taken several initiatives to promote a healthy environment for the growth of the manufacturing sector and has planned to invest $10 billion in two semiconductor plants in order to facilitate electronics manufacturing in the industry. The Indian envoy said the government of India has an ambitious plan to locally manufacture as many as 181 products, a move which he said could help infrastructure sectors such as power, oil and gas, and automobile manufacturing that require large capital expenditure and revive the US$27.27 billion Indian capital goods business.