India’s investments in Zimbabwe surpass US$600 million

Zimbabwe and India continue to deepen economic cooperation, with investments from Indian firms in Zimbabwe’s private sector now exceeding US$600 million. This is reported by ZBC News, a partner of TV BRICS.

Speaking at the India Republic Day celebrations, India’s Ambassador to Zimbabwe, Bramha Kumar, highlighted the increasing economic footprint of Indian businesses in Zimbabwe. He noted that Indian private sector investments are not only substantial in value but also play a crucial role in employment creation, directly supporting around 5,000 jobs and indirectly benefiting approximately 10,000 more.

Zimbabwe and India have also maintained strong diplomatic ties in international forums, including the United Nations, and have been key advocates of the South-South cooperation framework.

Zimbabwean Deputy Minister for Foreign Affairs and International Trade, Sheilla Chikomo, emphasised the strengthening economic ties between the two countries, particularly in the fields of technology and skills development. She highlighted India’s establishment of 17 Indo-Zimbabwe Technological Centres, which were upgraded in 2022 with state-of-the-art Computer Numerical Control (CNC) machines.

The Indian Technical and Economic Cooperation (ITEC) programme has played a pivotal role in skills development, benefiting professionals and industries in Zimbabwe, the source claims. Currently, over 25 Indian-owned or Indian-Zimbabwean joint ventures are operating in the country, spanning various sectors.

As part of Zimbabwe’s economic diplomacy agenda under the Second Republic, several Indian enterprises have expanded their presence in the country.

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