India explores local investment avenues

The government of India explores local investment avenues in Malawi amid criticism

Post was last updated: September 15, 2020

The government of India has disclosed that it is exploring investment opportunities in the country’s agriculture, pharmaceuticals and health sectors to complement Malawi Government’s efforts to grow and enhance its economy.

The new Indian High Commissioner to Malawi, Anurag Bhushan, said in a response to an emailed questionnaire on Friday that his government is keen to assist Malawi achieve her development agenda and enable her to join a group of developing countries with good education, health, agriculture and industry.

Bhushan noted that there is a lot of potential in the said sectors; hence, his government is taking thoughtful steps to actualise its dream by entering into Public and Private Partnerships (PPPs) with local companies and enterprises.

“There is a big potential of cooperation through public and private partners from India to explore possibilities in agriculture, including animal husbandry, pharmaceuticals and health sector.

He added that his government is also considering investing in the energy sector by partnering with local companies to achieve the goal.

Bhushan said an Indian public sector company, NTPC Ltd, has already signed a memorandum of understanding with Electricity Generation Company (Egenco) for cooperation in the field of power generation.

“We expect the Government of Malawi to benefit a lot from this initiative,” he explained.

The envoy further disclosed that the Government of India is providing around 150 fully paid training courses for the Government of Malawi officials in prestigious institutions in India.

“On the other hand, we are providing around 20 fully paid scholarships for Malawian students to study in Indian universities for undergraduate, postgraduate and PhD level studies and under India Africa Forum Summit around 60 training slots are provided to students from Malawi. I can assure that India will stand with Malawi in rendering necessary development cooperation assistance,” he said.

Meanwhile, Bhushan has expressed contentment with the progress SmedI Business Incubation Centre (BIC) at Mponela and Salima Sugar Company are making towards improving the social and economic livelihoods of Malawians through provision of business skills and creation of job opportunities to the locals.

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