Indians invest sh120b in Uganda yearly
Jan 28, 2010
INDIANS invest $60m (about sh120b) in Uganda every year, Srivastava Niraj, the Indian High Commissioner to Uganda, has revealed.
By Thomas Pere
INDIANS invest $60m (about sh120b) in Uganda every year, Srivastava Niraj, the Indian High Commissioner to Uganda, has revealed.
“India is one of the three biggest trade and investment partners of Uganda and on average, Indian companies have been investing about $60m per year for the last five years. The two countries trade in a number of items including pharmaceuticals,†Niraj said.
“In fact, one third of Uganda’s pharmaceuticals come from India,†he added.
The envoy disclosed this while giving a speech during a flag-hoisting ceremony to mark the Republic day of India at the Indian High Commission in Kampala on Tuesday.
Niraj said the bilateral relations between Uganda and India are excellent, citing several high-level visits between officials of the two countries that include the visit of the Indian Prime Minister to Uganda during CHOGM in November 2007 and the visit of President Yoweri Museveni to India in April 2008.
Niraj added that a large number of Ugandans have studied in Indian universities and colleges since the 1950s, an indication that the two countries are cooperative.
“Every year, India offers around 15 scholarships to Ugandans to pursue degree courses in India and about 50 scholarships to Ugandan students and officials to attend short-term training courses ranging from two weeks to one year in India,†the diplomat said.
Niraj urged Indians in Uganda to respect Ugandans.
“The world over, Indians have got a good reputation. Let the Indians living in Uganda be good citizens. This should not be hard for you because back home in India, we are a multi-ethnic country and you should be used to staying with other people,†he said.
Niraj vowed to continue cementing the co-operation with Uganda in various fields, to promote economic development and increase Indian trade and investment in the country.
Hundreds of Indians and Ugandans attended the ceremony which marks when India became a republic and got its own constitution.
INDIANS invest $60m (about sh120b) in Uganda every year, Srivastava Niraj, the Indian High Commissioner to Uganda, has revealed.
“India is one of the three biggest trade and investment partners of Uganda and on average, Indian companies have been investing about $60m per year for the last five years. The two countries trade in a number of items including pharmaceuticals,†Niraj said.
“In fact, one third of Uganda’s pharmaceuticals come from India,†he added.
The envoy disclosed this while giving a speech during a flag-hoisting ceremony to mark the Republic day of India at the Indian High Commission in Kampala on Tuesday.
Niraj said the bilateral relations between Uganda and India are excellent, citing several high-level visits between officials of the two countries that include the visit of the Indian Prime Minister to Uganda during CHOGM in November 2007 and the visit of President Yoweri Museveni to India in April 2008.
Niraj added that a large number of Ugandans have studied in Indian universities and colleges since the 1950s, an indication that the two countries are cooperative.
“Every year, India offers around 15 scholarships to Ugandans to pursue degree courses in India and about 50 scholarships to Ugandan students and officials to attend short-term training courses ranging from two weeks to one year in India,†the diplomat said.
Niraj urged Indians in Uganda to respect Ugandans.
“The world over, Indians have got a good reputation. Let the Indians living in Uganda be good citizens. This should not be hard for you because back home in India, we are a multi-ethnic country and you should be used to staying with other people,†he said.
Niraj vowed to continue cementing the co-operation with Uganda in various fields, to promote economic development and increase Indian trade and investment in the country.
Hundreds of Indians and Ugandans attended the ceremony which marks when India became a republic and got its own constitution.