Several major Indian companies have expressed interest to invest in the country following the recent tour to the country by a Rwandan delegation.
According to a statement released yesterday by the Rwanda Development Board (RDB), the delegation engaged top Indian companies and business executives for hours, as they explored the country’s investment climate and specific opportunities.
“Many of them committed to explore business opportunities in Rwanda and in the region but also in the continent at large and committed to visiting the country to get a first-hand feel,” reads part of the statement.
“Although there are a number of Indian companies already investing in Rwanda, and others still negotiating contracts, Rwanda envisages big growth of Indian companies in the country.”
Statistics from RDB indicate that investments worth over US$145 million were committed from India and projects worth over US$600 million are being negotiated.
India’s growth rate and large middle level class supported by advances in technology, agriculture and manufacturing, is seen as an opportunity from which Rwanda can learn.
“Several companies in the health sector, packaging industry, production of construction materials, agriculture, large scale farming and ICT software companies expressed serious interest and will be visiting Rwanda to follow up on their projects,” the statement adds.
RDB says India is one of its target markets for sources of investments as the country has shown immense growth over the last decade with many companies capable of expansion.
Agriculture minister Agnes Kalibata led the Rwandan delegation on the road show that ended on Sunday covering the three Indian cities of New Delhi, Bangalore and Chennai.
The events were attended by about 250 investors in each of the cities.