India is one of the major trade and investor partners of the Southern African country of Zambia. With the rapid industrialization in Zambia, bilateral trade and investment is only set to grow many-fold in the coming years. Recognising India’s untapped trade potential with Zambia, WTC Mumbai organised a virtual exhibition on its new age digital platform Wetrade.org. Zambia Development Agency (ZDA) and Indo-Zambia Bank also partnered with WTC Mumbai to launch this exhibition. The exhibition will promote bilateral trade by facilitating buyer-seller meeting and lead generation in sectors such as agro commodities, auto components, electrical and electronics, technology, healthcare, pharmaceuticals, metals, plastics, chemicals, textile and home décor.
The online exhibition, which will be live during July 15, 2021 –October 15, 2021, was inaugurated by H.E. Mr. Ngulkham Jathom Gangte, High Commissioner of India to Zambia at a webinar on ‘Trade and Business Opportunities between India and Zambia’.
Speaking on this occasion, H.E. Mr. Gangte remarked, “India is a major trade partner in promoting industrialization, farm mechanization, employment and poverty reduction in Zambia on a sustainable basis. It is encouraging to note that India is one of the major trade partners of Zambia as its bilateral trade has grown five fold in the last decade and India’s cumulative investment in this country has crossed USD 5 billion with significant investment in telecom, tourism, healthcare, mining and other sectors.”
In her video message, H.E. Mrs. Judith K.K. Kan’goma- Kapijimpanga, High Commissioner of the Republic of Zambia to India remarked, “Indian companies can export farm inputs such as seeds, fertilizers, farm machinery and agricultural finance to Zambia as there is huge demand for these products in our country. Besides agriculture, Indian enterprises can participate in construction projects such as hydel power plants, power transmission lines, airports, roads, railway lines, residential and commercial buildings.”
In his remarks, Mr. Mukula Makasa, Director General, Zambia Development Agency informed, “Zambian Development Agency has also signed MoUs with several trade associations in India to promote exchange of trade and investment. In the days ahead, we hope to launch direct flight connectivity between Lusaka and New Delhi and Lusaka and Mumbai to facilitate the growing relations.”
The event was also addressed by Mr. Chabuka Kawesha, President, Zambia Chamber of Commerce and Industry (ZACCI)
Earlier in his welcome remarks, Mr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai suggested, “Zambia, which is rich in natural resources such as metals, oil & gas, can encourage its entrepreneurs to set up processing plants in India for value addition of these raw materials. Similarly, Indian manufacturers who have been exporting machineries, textiles, pharmaceuticals and automobile components, can set up manufacturing plants in Zambia and generate employment opportunities in that country.”
During the webinar, Dr. Shrikant Kamat, Counsel - Commercial Laws, Academics Administrator suggested Zambian exporters to avail of the benefit under Government of India’s Duty Free Tariff Preference Scheme (DFTP).
Ms. Rupa Naik, Executive Director, WTC Mumbai proposed vote of thanks for the event.