Apollo Hospitals, Ajanta Pharma part of business delegation to Rwanda

Rwanda is the key to Africa, says Prime Minister Narendra Modi

Prime Minister Narendra Modi recently said that Rwanda was the key to Africa. He was addressing the India-Rwanda Business Forum jointly organised by FICCI and Rwanda Development Board in Kigali.

The delegation had representation from Ajanta Pharma and Apollo Hospitals from the healthcare sector and pharmaceutical sector. Other sectors in the delegation included Infrastructure and Construction, Renewable energy, ICT, Agriculture and irrigation, banking etc. Companies included Afcons, Airtel, Avaada Power, EXIM Bank, Godrej Consumer products, Hero Motor Corp, Jain irrigation, JMC Projects, KEC International, KPMG, Luxmi Tea, Mahindra & Mahindra, Shapoorji & Pallonji, TATA, Texmaco Rail & Engineering etc.

Paul Kagame, President of Rwanda in his address said that his administration is willing to address any bottleneck such as visa issues to further strengthen trade relations between the two countries.

India is amongst the top trade, investment and development partner of Rwanda. Over the past decade, Rwanda has been hailed as a rising star of Africa and is one of the fastest growing economies. Rwanda ranks 2nd in Africa in terms of competitiveness as per the Global competitiveness report of World Economic Forum 2017-18.

Rashesh Shah, President, FICCI Chairman & CEO, Edelweiss Group who led the 100 plus member Indian business delegation said that India considers Rwanda as serious strategic partner in Africa. “Rwanda is a rising star in the Africa growth story which resonates well with India. Trade between India and Rwanda have crossed USD 100 million. We expect that to cross USD one billion in the next few years,” he said.

He also added, “There are plenty of opportunities in both the countries. FICCI as the apex chamber and the Indian Industry would support wholeheartedly in harnessing the potential.”

Apart from the Business Forum and B2B meetings, several MOUs were signed on this occasion between RDB and FICCI, RDB and Avaada Power Ltd and others.