India’s Prime Minister Narendra Modi, will begin a two-day state visit to Rwanda this Monday as the two countries seek to bolster ties. Modi is expected to travel with about 100 Indian business leaders, India’s Ambassador to Rwanda, Ravi Shankar, told The New Times last week, highlighting growing appetite for the Rwandan market from Indian investors. “More than 200 business people from both Rwanda and India will attend the business event of which 100 business persons from India representing diverse sectors will be there to explore the investment opportunities that Rwanda has to offer,” he said. Already, there is a growing number of Indian businesses in Rwanda especially in hospitality and commercial trade, and the trend is expected to continue, the ambassador said. Rwanda and India have enjoyed warm bilateral and business relations over the years. Between 2011 and 2015, bilateral trade between the two countries has been valued at $526 million. According to statistics from Rwanda Development Board (BRD), between 2011 and 2016, Rwanda registered 66 investment projects from India in the fields of telecommunication, hospitality and education, valued at $317.5 million. The investments have attracted more than 3,800 jobs. With the Prime Minister’s visit to Rwanda, expectations are high and many Indian business investors could seal investment deals with RDB or their local counterparts. Shankar highlighted that India seeks to further deepening its economic and technical engagement with Rwanda, as well as promote and facilitate trade between the two countries. “We have always stood by Rwanda in its quest for economic growth and national development”. Currently, RwandAir, the national carrier operates flights from Kigali to Mumbai, making connectivity between India and Rwanda easier. editorial@newtimes.co.rw
