Congo: A potential destination for Indian diamond Cos

21 Mar '08

2 min read

K.S Aswathanarayan says Democratic republic of Congo has lot of potential to provide invest opportunity while inaugurating the session on DR Congo at 4th CII – EXIM BANK Conclave on India – Africa Project Partnership 2008 at Taj Palace on Thursday.

He broadly highlighted the four parameters or scope for Indian investors in DRC. There is a tremendous opportunity for Indian investors in mining and diamond sectors.

Congo also provides opportunity in sectors of road railways telecommunication followed by building materials and agricultural processing industry.

HE Mr Simon Mboso Kiampotu in his address reinforced the Indo-Congo partnership. He urged Indian investors to participate in the progress of Congo.

He gave more emphasis to the diamond processing. India diamond processing industry is one of the best in the world market so he said Congo would also like to benefit from their Indian expertise.

Mopoliya, advisor to ministry of mining, also highlighted the opportunity that provide Congo to the Indian investors said earlier by the minister. He emphasized that India should come to Congo and invest immediately.

Mopotole while speaking about balancing the mining sectors highlighted some of the problems in India Congo trade relations.

He pointed out why India accords low value to diamonds coming from Congo; its because of lack of expertise. This is another channel where Congo also would like to collaborate with India.

He pointed out another significant for those investors who are interested to invest in the diamond processing sectors is that Congo has a favorable tax regime for the investors. Congo charges only 3% to 7.5% of tax in the export of diamond and many diamond producing countries charges 10%.

Confederation of Indian Industry

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