India is one of the most attractive FDI destinations: Vice President Naidu in Africa

Botswana, November 1: India’s stability, consistency, transparency and reform agenda coupled with a safe and structured financial system makes India one of the most attractive FDI destinations says Vice President M. Venkaiah Naidu while addressing the gathering after inaugurating the Global Expo Botswana 2018, in Gaborone, Botswana on Wednesday.

 

This year’s Expo holds special significance to India this year as 25 Indian companies are taking part in the event making it the largest participation from a single country.

Vice President Naidu said that the annual Business to Business Expo creates an opportunity for the world community to engage with Africa and deepen the feeling of commonality and sense of purpose among participating nations.

Emphasizing that India's engagement with Africa has gathered an unprecedented pace over the last four years, the Vice President reiterated that India supports the industry to invest in Africa and keeps its markets open for investments. Informing the global business community about India’s economic progress, the Vice President highlighted the transformative changes taking place in India.

The Vice President said that India’s steady growth rate of over 7% presents multiple opportunities for Botswana entrepreneurs in various sectors and invited them to seize current and emerging business opportunities. He further said that transformative taxation reforms such as the Goods and Services Tax (GST) made India a transparent and an integrated market with greater ease of doing business.

 

The Vice President of Botswana, Slumber Tsogwane, the Minister of Investment, Trade and Industry of Botswana,  Bogolo J. Kenewendo, Indian MoS for Social Justice & Empowerment, Krishan Pal Gurjar, accompanying Members of Parliament and participating members from several countries in the Global Expo 2018 were present on the occasion.

Vice Prez Venkaiah Naidu embarked on his first Africa visit from 31st October to November 6, here today. In his weeklong visit, he will visit Botswana, Zimbabwe and Malawi where he is scheduled to interact with heads of state of the three nations, business fora and address Indian Community.

The visit underlines the high priority, the government of India accords to Africa and is line with India’s efforts to have a sustained and regular engagement.