A TEXTILE company in Surat City, in the Indian State of Gujarat, is willing to invest US$15m in Zambia in setting up a textile facility.
“The investment might create four hundred (400) jobs,” Sanjoo Dying and Printing Mills Private Limited Director Vishal Budhia said.
Mr. Budhia said the exercise might take one year to be operational adding that this would reduce the cost of linen in Zambia.
“I will also use my position as Confederation of Indian Industry (CII) Convener- Taskforce on Textiles Gujarat State Council, to urgently lead a delegation of textile industrialists to Zambia,” he said.
Mr. Budhia was speaking in Surat, in the Indian State of Gujarat (2000 km away from the Indian Capital New Delhi), when Zambia’s High Commissioner to India Judith Kapijimpanga toured his textile facility.
And Zambia’s High Commissioner to India Judith Kapijimpanga said investing in Zambia had many benefits as an investor could export to SADC and COMESA regions as well as the USA through AGOA.
“The Mission has recorded three companies in the first half of the year 2019 that has started operations in Zambia among them Prasad Seeds, Vagmi Cottons and OM Rollers and Smelters with combined investment worth over US$100m,” she said.
Mrs. Kapijimpanga said total investment from India to Zambia now stood at US$8b.
This was contained in a statement released by First Secretary Press and Tourism at the Zambian Mission in India Bangwe Naviley.