Ugandan PM visits India; plans to invest INR 6,663.2 million

Team Udayavani, Mar 9, 2017, 9:17 AM IST

Mumbai: Uganda Prime Minister Ruhakana Rugunda will sign letters of intent worth INR 6,663.2 million to boost bilateral trade with India.

PM Rugunda is in the city on a three-day visit.

“Uganda is looking forward to Indian investments and expertise in expanding its industry in areas of infrastructure, agro-processing, information technology and communication, services and education,” the Ugandan premier told PTI today.

The Prime Minister and his delegation were received by the Governor of Maharashtra Ch Vidyasagar Rao yesterday at the Raj Bhavan.

Mr Rugunda indicated that there are over 27,000 people of Indian origin who are contributing to the economy of Uganda, and the community accounts for over 68 per cent of direct tax collection.

“Uganda and India share a strong history, due to our colonial backgrounds. We have over 27,000 people from the Indian community that are contributing to our economy. We would now like to expand business ties and attract investments from India,” he added.

The other areas which Uganda is looking for cooperation with India are in oil exploration, energy, tourism, education and healthcare.

Uganda has appointed Madhusudan Agrawal, the co-founder and vice-chairman of Ajanta Pharma, as the Honorary Consul General in Mumbai. He too was present for the event.

Ajanta Pharma has been operating in Uganda for the past two decades, Mr Agrawal said.

Last month vice-president Hamid Ansari had visited the African nation, which will pave way for more business opportunities for the Indian community, he said.