Empowering MSMEs with News & Insights

Indian Companies Explore Agriculture Opportunities in Africa

Updated: May 24, 2024 05:21:27pm

Indian Companies Explore Agriculture Opportunities in Africa

New Delhi, May 24 (KNN) With several African nations like Kenya, Uganda, Botswana, and Cote d'Ivoire looking to diversify foreign investment in agriculture beyond China, India is pushing to secure economic and diplomatic ties in the sector.

During a recent delegation visit to Uganda and Kenya led by India's Ministry of External Affairs and Agriculture Ministry, the two African nations offered to lease land to Indian agricultural businesses.

About 35 Indian company representatives attended, including from DCM Shriram, Bharat Biogas Energy, and others.

"The Kenyan government has agreed to lease land with a condition that 20 per cent of revenue should be paid as an export tax," an official stated. "Uganda agreed to provide a minimum of 100 acres to each investor", reported businessline.

The driving factor appears to be a need for agricultural development to boost food security and economic growth. Key opportunities exist in cultivating crops like rice, wheat, millets, livestock, biogas and fertilisers.

"Both countries want the world's best seed varieties in maize, paddy, millets and horticulture crops to improve domestic production. Indian investors can put money here with guaranteed returns," an industry source said.

Animal husbandry is also promising given abundant cattle feed. The two sides could collaborate on developing local hybrid bovine species as well.

While some Indian delegates explored immediate export-import prospects, the focus was on facilitating long-term agricultural investments between India and the African nations over the coming months.

(KNN Bureau)


    Be first to give your comments.


Required fields are marked *