India Discloses Plans to Partner Nigeria to Improve The Business Environment
India has unveiled its commitment to strengthening its partnership with Nigeria to improve business and the environment.
This disclosure was made by India’s External Affairs Minister, Subrahmanyam Jaishankar, while speaking at a forum in Abuja.
The minister said the India High Commission organised the forum in collaboration with the Confederation of India Industry (CII) Business delegation to Nigeria.
Mr Jaishankar said he was on a maiden visit to Nigeria, adding that there was a need for stakeholders to work closely together towards improving the India-Nigeria business relationship.
In his words, “We have to find various ways of improving the business climate; there are some banking charges; there could be payment issues; there could be some travel visas.
“The CII and all businesses can help to solve problems faced by Nigerian partners in India, and they would, in turn, open more doors to us in Nigeria. We will continue to ease the operation system, motivate businesses against whatever obstacles and facilitate new opportunities.
“We could harness business opportunities; an example was in the energy sector, it could be in the digital field, green energy, I think there are lots of interest in agriculture.’’
He promised to build on the mutual relations between Nigeria and India and extend such to other parts of Africa.
Mr Jaishankar, while unveiling Mahatma Gandhi’s statue, said it was a matter of great fight, as it showcased India’s identity and bond with Africa to the world.
He said the Nigerian-Indian community relationship played an important role in building our relationship and shaping our image.
Gangandharan Balasubramanian, High Commissioner of India to Nigeria, described the forum as a platform designed to bring together the business community across India and Nigeria.
The director-general of CII, Chandrajit Banerjee, expressed the industry’s appreciation to the minister for driving economic engagement through his leadership and guidance.
He said the CII business delegation forum will strengthen economic cooperation and explore business and economic opportunities between India and Nigeria.
“We have representatives from energy, pharmacy, ICT, financial institutions, infrastructure and defence. India is Nigeria’s leading investor; it is informally estimated that there are $19.3 billion of investment by Indian companies in the country, and it is home to a large Indian community numbering around 50,000.
“Over 135 Indian companies are currently operating in Nigeria, with Indian owned/operated companies estimated to be the second largest employer. As the secretariat of the B20, CII had an Action Council on Africa, which had strong participation, including a co-chair from Nigeria. The council came out with strategic recommendations including inclusion of the African Union in the G20,” he said.
He said the next “CII India-Africa” conclave had been scheduled to be held from August 20 to 21, adding that he looked forward to a strong participation from Nigeria.
