Interactive session on business opportunities in West and Central Africa held in Pune

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Pune, 31st January 2024: Federation of Indian Chamber of Commerce and Industry ( FICCI ) in association with industrial development company – ARISE Integrated Industrial platforms (IIP) today organized an ‘Interactive session on business opportunities in West and Central Africa’ at Pride Hotel in Pune . Mr. Reetabrata Bhattacharya , General Manager Arise IIP , Mr. Nagesh Rane, Marketing Head Arise IIP, Mr. Manis Thanawalla, Director Greenback Advisory Services Pvt led and Mr. Deepak Mukhi, Director FICCI Maharashtra State Council were present on the occassion .

Nagesh Rane said that our main motto is attract exporters to come and set up their businesses in Africa. Post-covid the evolving geo- political situation presents Africa with lot of economic opportunities. The SEZ perks presents a lot of tax benefits, duties and subsidies apart from lesser transit times to western countries and freight cost. Availability of abundant raw material in some core sectors like agro processing coupled with skill training centers specially designed for product and sector presents a huge advantage. It has an impact on profit margin. Arise is present in countries with stable political environment .We have more than 10 parks all led by Indians as cluster heads adding to the convenience. Logistics including roads, ports and airports along with safety is aiding overall growth.

Manis Thanawalla, Director Greenback Advisory Services Pvt led gave a presentation of financing in Africa. He talkes about finacing for machinery, term loans,ECA funding ,working capital, warehouse financing etc and the challenges around these.

In his welcome address Deepak Mukhi, Director FICCI Maharashtra State Council said that the aim of the event was to make aware of the opportunities in SEZs and economic zones, financing options across 10 countries. India has emerged as one of the foremost inbound investment center for Africa partly fuelled by the push from the Indian Government to diversify the baskets after seeing the western economies face challenges. Africa is attracting investments in certain core sectors not only because of export potential about also domestic consumption. These core sectors include agro processing, automobiles, fertilizers and chemicals, electronics, packaging, construction material, timber, packaging, recycling industry, pharma, plastics, computer assembly and in recent times Electric Vehicles. FICCI has been leading a lot of these initiatives focused around trade activities. This is our effort to deepen trade partnership between India and Africa and supplement the efforts of the government by bringing these opportunities to the fore.