Staff Reporter
Zimbabwe’s economic partnership with India is reaching new heights, with private sector investments exceeding US$600 million, reinforcing the success of the Zimbabwe is Open for Business mantra. With over 25 Indian firms now operating in Zimbabwe, the relationship between Harare and New Delhi, which dates back to the pre-independence era, continues to grow.
During this year’s India Day celebrations, Indian Ambassador to Zimbabwe, Bramha Kumar, hailed Zimbabwe as a valued partner and highlighted the increasing role of Indian businesses in the country.
“Indian investment from the private sector is reaching new heights, estimated to be worth US$600 million. These companies directly employ around 5,000 people and provide indirect employment to nearly 10,000 others. The number of Indian companies and professionals in Zimbabwe is also on the rise. Expansion projects are underway, one of which was recently officiated by His Excellency President Mnangagwa. I am confident that the Indian business sector will play a key role in restructuring Zimbabwe’s economy,” said Ambassador Kumar.
He further emphasized Zimbabwe’s importance as India’s partner in international forums, including the United Nations, and noted that Zimbabwe has joined the International Solar Alliance, underscoring the two nations’ commitment to sustainable energy development.
Deputy Minister for Foreign Affairs and International Trade, Sheila Chikomo, commended the strengthening of economic ties and India’s role in advancing Zimbabwe’s industrial and technological capabilities.
“India has set up 17 Indo-Zim Technological Centres in Zimbabwe, which were upgraded with the latest Computer Numerical Control (CNC) machines in 2022. These centres are crucial in enhancing education, scientific, and technological cooperation between our nations. Additionally, Zimbabwe continues to benefit from the Indian Technical and Economic Cooperation (ITEC) programme, which aligns with our vision of a knowledge-based economy,” she said.
She highlighted that Indian businesses have established a strong presence in Zimbabwe across various industries.
“Major companies include Varun Beverages, which produces carbonated drinks, Rallies Company, a key pharmaceutical supplier to CAPS (Pvt) Ltd, Surface Investments Private Ltd, an oil processing company, Outside Designers and Distributors, a garment manufacture and Zimbin Agro, an agro-equipment manufacturer,” she explained.
In a significant development, Indian conglomerate Jindal Steel and Power (Pvt) Ltd has undertaken the rehabilitation of Hwange Power Station’s Units 1 to 6 under the Build-Own-Operate-Transfer (BOOT) financing model. This project is expected to add 400MW to Zimbabwe’s national grid, strengthening the country’s energy supply and supporting industrial growth.
Under the Second Republic’s economic diplomacy agenda, India’s expanding footprint in Zimbabwe is fostering job creation, technology transfer, and industrialization. As trade and investment ties deepen, the partnership between the two nations is set to unlock even greater economic opportunities, ensuring mutual growth and prosperity.
