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MS EVA L. NZARO, High Commissioner of Tanzania

Coimbatore , Aug. 11

"Africa is not a short-term bet. In the past, Indian entrepreneurs were only looking at executing orders for a particular period. But today, there is a definite need to build a long-term business plan. The receptivity to Indian products is more favourable in Africa compared to England. Indian companies should take a `direct presence','' Dr Jay Varadaraj, Managing Director, Elgi Equipments, said here on Friday.

Addressing a seminar on `India-Africa project partnership — Showcasing opportunities' organised by the Confederation of Indian Industry, Coimbatore Zone, Mr Varadaraj recalled how business units that established their direct presence in China (over a decade ago) when its economy was still closed registered growth and called upon the entrepreneurs to benefit from the first mover advantage.

Ms Eva L. Nzaro, High Commissioner, Tanzania High Commission, wooed entrepreneurs to make investments in her country.

"The climate is apt for investment. We offer a 10-year tax holiday apart from other concessions,'' she said and called upon the members to invest in power projects, education, spinning units, hospitals, farm mechanisation activities, upliftment of livestock etc.

"We have resources, be it water or gas, arable land or manpower in plenty. We need to use each of these properly. You have the technology, so share it,'' she said.

Mr Bruno Ranarivelo, Ambassador, Embassy of Madagascar, and Ms Gennet Zewide, Ambassador, Embassy of Ethopia, who were present at the seminar said Africa looked at India as not just a trade partner but also a development partner.

The bilateral trade relations between the two countries have risen significantly in the last couple of years. During 2004-05, India's exports to Africa registered a sharp rise of 39.1 per cent to reach $5.4 billion from $3.9 billion the previous year. The country's imports recovered to $3.8 billion in 2004 from $3.2 billion.

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