New Delhi, July 2 (IANS) The Confederation of Indian Industry (CII) is organizing a business delegation to the eastern African countries of Mozambique and Tanzania during the visit of Minister of State for External Affairs Preneet Kaur there July 4-10.
“Mozambique and Tanzania are of strategic interest to Indian business as the India-Africa business engagement expands to all important countries in Eastern Africa,” said CII.
India and Tanzania have a vibrant business and commercial relationship driven by the presence of a large community of Tanzanians of Indian origin. India is a leading trading partner of Tanzania as well as an important source of essential machinery and pharmaceutical products.
Many of the top business establishments of Tanzania are owned by members of the Indian origin. India’s economic engagement with Tanzania has also increased to a cumulative investment of $ 1,829.00 million [1990-2012] and it ranks as the third biggest investor in Tanzania generating employment to 50,224 people.
India ranked the eighth largest investor in Mozambique in 2012 with investments of $86.2 million. Indian companies have also invested in coal, minerals, hydrocarbon and other diverse sectors.