Representatives of not less than 100 Indian companies, on Friday, said that more Indian companies and investors were willing to take advantage of Nigeria’s huge investment environment. The representatives spoke in Lagos on the side-lines of a seminar on Nigeria and India’s investment opportunities, attended by no less than 100 Indian companies. According to them, Nigeria currently has the largest population and market in Africa that will continue to attract foreign investors and companies. Naresh Leeka, who led the companies to Lagos to exhibit their products, said that export from India to Nigeria was increasing as more Indian companies were ready to take advantage of Nigeria’s market. Leeka said the companies were in Nigeria to first have one-on-one interaction with their partners before coming to establish their companies in Nigeria. “This large number of Indian companies to Lagos, Nigeria, indicates how much regard and interest more Indian companies have in Nigeria,’’ he said. Rajen Sundaresan, the Executive Director of All India Rice Exporters Association (AIREA), said that rice producers in India were becoming more interested in bringing their finished products to Nigeria. Sundaresan said that the association was working hard at making Nigeria a ready market for India’s variety of rice. “We know that there is presently a high demand for rice in Nigeria,” he said. “So, we want to bridge the gap between rice demand and supply in Nigeria. We are presently looking for more Nigerian partners for the importation and distribution of Indian rice in Nigerian markets.” Paurik Dave, the Executive Director of Plus Engineers, said that the company was in Nigeria to partner directly with organisations and construction companies; adding that their coming to Nigeria would open markets for their engineering and construction equipment at reduced costs. “Though, we are presently in Uganda, Kenya, Tanzania, Ethiopia and Ghana, our main target still remains Nigeria,” he said. “This is because we know that Nigeria will provide the needed huge market for our equipment.” Satish Bajwa, the Chairman and Managing Director of Pressline India Private Limited, said that although the company had been established in Nigeria, it would soon diversify into Nigeria’s printing industry. The Indian companies that participated in the seminar were from the agriculture, electrical, textile, pharmaceutical, automotive, construction, engineering, oil and gas, power, water and other sectors.
Daily Times
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