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Zambia’s High Commissioner to India Judith Kapijimpanga has disclosed that trade between Zambia and India has exceeded One Billion United States Dollars target in the year 2018.
Trade between Zambia and India improved from six hundred and fifty million US dollars in the year 2016 to nine hundred and eighty million us dollars for the year 2017 and further exceeded a one billion dollar target in 2018.
Zambia’s High Commissioner to India Judith Kapijimpanga says Business Visas issued to Indian traders and investors also increased from five hundred and twenty in the year 2017 to six hundred and two in the year 2018, representing an increase of eighty two.
She says more Indians are interested in investing in Zambia following the first ever visit in thirty years by an Indian President, Shri Ram Nath Kovind, who had a three- day state visit to Zambia in April 2018.
Mrs. Kapijimpanga says the mission was engaged in various activities that promote investment, trade and economic cooperation between Zambia and India and countries of extra-accreditation, namely; Singapore, Sri Lanka, Bangladesh, Nepal, Myanmar and the Maldives.
She says the mission attended several meetings and hosted several others to ensure that the objectives of attracting foreign direct investment -FDI and enhancing Zambia’s international trade are realized.
The High commissioner has since appealed to all stakeholders to move with speed in ensuring that prospective investments are actualized as the mission’s mandate ends at marketing the country.
Mrs. kapijimpanga says the mission wooed one of India’s biggest seed processing companies, Prasad Seeds, which is setting up a multi-million dollar processing facility in Zambia and the company has already been registered in Zambia.
She says the mission further initiated talks with PME Power Solutions India Limited, one of the leading Indian transformer manufacturers which offered to set base in Zambia to service the country and the region, with a planned investment of one hundred million us dollars target to create over six hundred jobs.
This is contained in a statement released by first secretary press and tourism at the Zambian Mission in New Delhi, India, Bangwe Naviley.