India is increasing bilateral trade and investment ties with Zimbabwe after committing over $500 million on several projects across the country.
India is eyeing more strategic alliances with local firms to consolidate existing bilateral economic ties.
Indian Ambassador to Zimbabwe, Mr Rungsung Masakui said the Asian economy has committed over $500 million to Zimbabwe’s strategic sectors but is also focusing on modalities to increase its portfolios in the country.
“There is the scope for doing business with Zimbabwe and we should anticipate for better returns in the country,” he said.
Zimbabwe mainly exports raw materials to India with the Asian economy also exporting finished goods to the country such as tractors, pharmaceuticals and electricals among others.
Notable latest investments by Indian based corporates that have a potential to create jobs in Zimbabwe include Pepsi and CAPS Pharmaceuticals.