Early Times Report
Jammu, Oct 24: The Associated Chambers of Commerce and Industry of India (ASSOCHAM), in collaboration with ARISE IIP, has announced the upcoming B2B Meetings on Business Opportunities in Africa scheduled for October 28 at Hotel Radisson Blu in Jammu.
This event presents a unique opportunity for businesses to explore the untapped potential of the African continent and discover various growth opportunities under special government schemes.
Africa is rich in natural resources, including minerals, oil, gas, and fertile agricultural land. These resources offer substantial investment potential in various industries such as mining, energy, textiles, agriculture, food processing, FMCG, and pharmaceuticals. With a growing middle class and a projected consumer spending of USD 2.2 trillion by 2030, as estimated by the African Development Bank, Africa is becoming one of the most attractive regions for foreign direct investment (FDI).
Manik Batra, Chairman of ASSOCHAM J&K Council, stated, “India, as Africa’s second-largest global trading partner, has played a crucial role in strengthening the India-Africa relationship. India’s private sector has been a leader in investing in Africa, contributing around $54 billion over the past two decades, which accounts for approximately 19% of Africa’s foreign direct investment. Key areas for collaboration include pharmaceuticals, ICT and services, the automotive industry, and the power sector.”
“In light of the critical importance of bolstering economic ties between India and Africa, ASSOCHAM, in partnership with ARISE IIP, is organizing these B2B Meetings on Business Opportunities in Africa. The event aims to bridge industrial gaps, unlock Africa’s potential for sustainable local development, promote manufacturing, boost export growth, and enhance trade promotion,” he added.
ARISE IIP, a leading infrastructure developer in Africa, specializes in conceiving, financing, constructing, and operating integrated and tailor-made industrial zones. These ecosystems play a vital role in promoting industrialization in Africa, creating jobs, and adding value to natural and agricultural resources.
Key features of ARISE IIP SEZs include tax benefits, world-class infrastructure, single window approvals, and more. Key industries targeted for growth in these SEZs include pharmaceuticals, cashew processing, textiles, agro processing, packaging, industrial products, FMCG goods, marbles and granite, minerals, chemicals, and fertilizers.
The primary focus of these meetings is to reveal investment and business opportunities available to Indian companies in Africa. This can be achieved through the establishment of manufacturing or processing units under special government schemes, utilizing Africa as a base to access and expand into other Gulf countries, according to Amit Kaushik, Business Development Manager at Arise IIP.
Registration is mandatory to attend the event. Interested participants are encouraged to confirm their attendance using the provided registration link or contact the J&K headquarters of ASSOCHAM at By Pass Road, Narwal. |
