Story by Oleen Ndori
Zimbabwe is expanding ties with India amid revelations that investments in the private sector exceed US$600 million, reflecting the success of the Zimbabwe is Open For Business mantra.
With over 25 Indian firms operating in Zimbabwe, ties between Harare and New Dehli that began before independence have grown over the years.
Marking this year’s India Day, the country’s Ambassador to Zimbabwe, His Excellency Bramha Kumar celebrated the ties, saying Zimbabwe is a valued partner.
“Indian investment from the private sector is reaching new heights, and it is estimated to be worth US$600 million. They directly provide employment to some 5 000 people and indirect employment to roughly 10 000 people. Numbers of Indian companies and professionals are also on the rise. There are already some expansion projects of this private sector investment, one of which was recently officiated by his Excellency President Mnangagwa last month. I am confident that the Indian business sector will be an important contributor in restructuring of Zimbabwe’s economy. Zimbabwe has been India’s valued partner in issues of mutual concern at various international fora, including the United Nations. Our two countries have been strong supporters of the South-South cooperation framework. Zimbabwe has joined the International Solar Alliance,” he said.
The Deputy Minister for Foreign Affairs and International Trade, Honourable Sheilla Chikomo said the growth of economic ties between the two countries is encouraging.
She said, “India has set up 17 Indo-Zim Technological Centres in Zimbabwe. These centres were upgraded with the latest Computer Numerical Control (CNC) machines that were installed in 2022. The Indo-Zim Technological Centres are important in strengthening the education, scientific and technological cooperation between Zimbabwe and India. We acknowledge, that our two nations have mutually benefited from the Indian Technical and Economic Cooperation (ITEC) programme.
“The ITEC programme is about skills development, and it resonates with Zimbabwe’s aspiration of attaining a knowledge based economy. It is encouraging that the trade and economic linkages between Zimbabwe and India are ever getting stronger. There are over twenty- five (25) major companies owned by Indians and/or Zimbabweans of Indian origin, who have invested in Zimbabwe; Varun Beverages, that produces carbonated drinks, and the Rallies Company, which supplies pharmaceuticals to CAPS (Pvt) Ltd amongst others.”
Under the Second Republic’s economic diplomacy thrust, Indian companies such as oil processing company Surface Investments Private Ltd; garment manufacturing company Outside Designers and Distributors as well as agro-equipment manufacturing company Zimbin Agro are operating in Zimbabwe.
Jindal Steel and Power (Pvt) Ltd of India has also come on board to rehabilitate the Hwange Units 1 to 6 Power Stations, under the Built-Own-Operate and Transfer (BOOT) financing model.
The project is expected to add 400MW to the country’s national power grid.
