African country Zambia on Wednesday sought investments from India in various sectors including agriculture, information and communications technology (ICT), and manufacturing with a view to increase economic ties between the nations.
Zambia President Edgar Chagwa Lungu, who is here on an official visit, said huge trade and investment opportunities exist in the south African nation for Indian businesses.
"I invite you all to come to Zambia to explore trade and investment opportunities," he said while addressing business leaders of both the countries.
Lungu said huge potential are there in areas including agriculture, agro-processing, tourism, construction, and manufacturing.
"India has become giant in some of these areas, so you are welcome," he said adding "we will provide all infrastructure to make informed decisions".
Speaking at the business session, which was organised by the Confederation of Indian Industry, Zambian Trade Minister Christopher Yaluma assured that Indian investments would be fully protected in his country.
He said, "Our country is open for business and we welcome you...we are investing heavily in infrastructure."
Commerce and Industry Minister Piyush Goyal said the current bilateral trade between the countries is "still quite moderate".
The two-way trade increased to USD 830 million in 2018-19 from USD 769 million in 2017-18.
He said Indian businesses would participate in the development of Zambia.
"Trade is still quite moderate and it has huge potential. I do hope that businesses of both the sides will work together," Goyal said.
The minister said both the countries can increase cooperation in areas such as agriculture, ICT, infrastructure, automobile, health care and pharmaceutical.
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