Africa is mainly famous for civil wars, poverty, hunger and corruption. So, most companies do not look this market as an attractive one. Indian companies have mainly looked to Europe and America for doing business until now. Africa is becoming an attractive destination for Indian companies now. The countries that Indian companies are now mainly investing in West Africa are:
Nigeria
Senegal
Ivory Coast
Gambia
TATA is the leader and some other companies are now following the path of TATA too. Africa is going to be important for Indian companies for two reasons.
- It is going to be a good export market.
- Indian companies can import raw materials and India can import oil from Africa.
I am happy that Indian companies are trying to diversify its presence in the world and Africa is going to become a good market for them. Indian companies will have to be careful about the possible enmity they may face from the existing local and foreign companies in Africa. The existing local and foreign companies would not be too happy to see Indian companies doing business here and taking away their business.
What is your idea about it?
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