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CII and New Delhi Mission Joint Investment Call

Monday, 24th August 2020

 

Over 300 members of the business community in India and abroad attended a webinar jointly organised by the Confederation of Indian Industry(CII) and the Uganda High Commission in New Delhi. The high profile virtual seminar was addressed by the two envoys tasked with promoting bilateral relations between Uganda and India: Mr Ajay Kumar the newly appointed Indian High Commissioner to Kampala and Ms Grace Akello, the Ugandan High Commissioner to New Delhi. 

The Webinar was chaired by Mr Gideon Badegawa, the Executive Director of the Uganda Private Sector with technical support from the Director for Africa at CII, Mr E B Rajesh. Aimed at reviving Indian investment interest in Uganda after corona, CII members were reminded of the many recent high profile visits by Ugandan government and private sector leaders to India with the aim of getting Indian investment into the country. In particular the CII was reminded of the visit by the Vice President of Uganda in March, 2018 in which he participated fully in CII programmes. He also participated as the Chief Guest at the Mumbai Business Summit held the same month; and received members of the business community who he encouraged to go and invest in Uganda. The warm bilateral relations between the two countries would further be strengthened with increased trade between the two countries. Earlier visits by the Prime Minister of Uganda to India in 2017 when he was accompanied by many cabinet ministers had earlier served to underline the importance Uganda attaches to her relations with India. The State Visit to Uganda by Prime Minister Modi in July, 2018 showed that the bilateral relations were of the highest level of friendship and solidarity.

The webinar which was held on 18th August involved background preparation which was carried out by Ms Indriani Mulay,  CII Deputy Director for Africa Region, and a team of dedicated officials at the CII Secretariat. It was timed to revive interest in Uganda as an investment destination in view of the many competing demands from other countries on Indian companies and investors. Accordingly top level Ugandan technical officers were invited to give an overview of investment opportunities in different sectors of the economy to the august membership of CII.  

The open welcome to Uganda-Indian post-corona economic partnership was conveyed to the assembly by the chairperson of the Webinar, Gideon Badegawa in his capacity as the top executive of the Uganda Private Sector Foundation. This was followed by a comprehensive presentation of priority investment areas by Lawrence Byensi in his capacity Acting Director General of Uganda Investment Authority; backed by further remarks from the Director Investment Promotion and Development Ms Sheila Mugyenzi. The Mumbai Honorary Consul, Madhusudan Agrawal and Vinod Saraogi the Ugandan Honorary Consul-Designate in Chennai, gave an Indian perspective on doing business in Uganda; while the Zimbabwean Honorary Consul in Mumbai, Mr Purushottam Agrawal who recently entered Uganda as an investor, shared his experiences on setting up a firm in the mining sector of the Ugandan economy.

 


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