International Development News
Development News Edition

VP Naidu invites Botswanian firms to do business with India

Vice President Venkaiah Naidu Wednesday invited companies in Botswana to seize business opportunities in India, which he said is moving rapidly on the path of economic transformation.

Addressing business leaders at the 13th Global Expo Botswana 2018, Naidu said Botswana and India enjoy a longstanding and enduring partnership as the two countries share the common values of democracy and strong people-to-people ties.

Naidu, who arrived here this evening on the first leg of his three-nation visit to Botswana, Zimbabwe and Malawi, inaugurated the expo along with his Botswanian counterpart Slumber Tsogwane. Twenty-five Indian companies have taken part in the expo, the largest participation from a single country. "India commends Botswana’s significant role in integrating its regional partners and promoting inclusive growth for Africa, he said.

"I come from a country that has, from time immemorial, believed that the entire world is one large family. It is a country that has espoused peaceful co-existence among nations. It is a country that believes that all the countries should work together to improve human lives," he said.

India's engagement with Africa over the last four years has been unprecedented, Naidu said.

"Recently, Prime Minister Narendra Modi has set out 10 guiding principles to take our relationship with Africa to even greater heights," he added.

"In the India-Africa Forum Summit in 2015, India pledged an overall lines of credit of USD 10 Billion for Africa, in addition to USD 600 million as grant and 50,000 scholarships. We are well on our way to fulfilling these pledges," he said.

India-Botswana business ties have been growing steadily over the years, he said. "Our bilateral trade is valued at USD 1.75 billion in 2017-18. It is impressive to note that our trade has increased by 26 per cent during 2017-18."

India is moving rapidly on the path of economic transformation with an annual growth rate of over 7 per cent and presents multiple opportunities for Botswana entrepreneurs in various sectors, he added.

"Transformative taxation reforms like the introduction of Goods and Services Tax (GST) has made India a transparent and an integrated market with greater ease of doing business," he said.

"Aiming to make India the 3rd largest consumer market in the world, we are moving forward to build a five trillion dollar economy by 2025," he said.

"Today, in India, there is a new enthusiasm, a new dynamism and a new quest for excellence in all spheres," Naidu said.

The vice president said the Modi government has launched flagship schemes like Swachh Bharat, Make in India, Skill India, Digital India, industrial corridors and smart cities development programmes and asked Botswana companies to "seize these current and emerging" business opportunities.

Naidu's six-day Africa visit is aimed at boosting bilateral ties with Botswana, Zimbabwe and Malawi.

During the six-day Africa visit, Naidu's official engagements include meeting presdents of the countries; holding bilateral meetings with his counterparts and delegation level talks; and interacting with business groups and Indian communities.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



'No escape from telephones', this 1953 prediction actually comes true

In 1953, a telephone company chief predicted that therell be no escape from telephones in the future....

With Ayodhya verdict, CJI starts clearing high profile pending cases

Ending all the speculations, the Chief Justice of India Mr. Ranjan Gogoi who is due to retire on November 17 decided to deliver the verdict in Ayodya dispute at 10.30 am on Saturday which is not a working day for the Supreme Court. This is ...

How partnerships and collaborations could enhance teacher training

Monica Malhotra Kandhari, Managing Director, MBD Group shares her views on public private partnership and collaborations in education sector. She supports her propositions with her organisations success stories....

Fixed Test centers would facelift level of WTC in India

The venues for the test matches in India should be fixed so that World Test Championship matches remain fair....


Latest News

Hong Kong's Lee wins home badminton title as protests rage

Hong Kong, Nov 17 AFP Home favourite Lee Cheuk-yiu battled to victory over Indonesias Anthony Ginting to secure a shock Hong Kong Open win as the citys pro-democracy protests raged nearby on Sunday. Lee, 23, came from a game behind and then...

Bill Gates praises Bihar govt for efforts to fight poverty,

Bill Gates, billionaire philanthropist, and Microsoft co-founder, on Sunday, praised Bihar governments progress in fighting poverty and disease in the last 20 years, saying only a few places have been able to surpass the achievements made b...

Bank workers in Lebanon to remain on strike on Monday -union

Bank workers in Lebanon will remain on strike on Monday, the president of the Federation of Syndicates of Bank Employees told broadcaster MTV on Sunday, extending industrial action that has kept banks shut nationwide.The union began the str...

UPDATE 1-Russia flags possible 2019 summit on eastern Ukraine

A summit between France, Germany, Russia and Ukraine to try to resolve the conflict in eastern Ukraine is possible this year but no date has been agreed, a Kremlin aide said on Sunday.France said on Friday that the so-called Normandy summit...

Give Feedback