Embassy of India,
Harare, Zimbabwe

Speech by R.Masakui, Ambassador of India at the Inauguration of Pepsi plant- 6th December 2019

H.E E.D Mnangagwa, President of the Republic of Zimbabwe

Hon’bleSikaiNzenza, Minister of Industry and Commerce

Mr. Ravi Jaipuria, Chairman, RJ Corp

Ladies and gentlemen

I am delighted to come back to Varun Beverages yet again to witness the inauguration of additional lines of production of their products.  It is always a proud moment for me to see Indian business entity expanding in Zimbabwe.  This is not only another success story of one of the finest businesses from India in Zimbabwe but also reflects the commitment of RJ Corp to deepen its footprint in Zimbabwe for mutual benefits. It obviously benefits the company. But for the economy of the country where it operates, it adds value by way of income and employment generation.

My former Foreign Minister Lt. Madam SushmaSwaraj said that Indians abroad are known for three things, that, we are 1. Harding working, 2. They are peace loving and 3. They make good neighbor. I can not agree more with her.

Excellency,

I was witness to Mr. Partha, CFO of Pepsi who, in the month of September came to Harare and sat at the reception of Reserve Bank of Zimbabwe for two weeks waiting to meeting its official to settle certain matters. Amidst frustrations and disappointments, ladies and gentlemen, I can see the resolution of this gentleman to get what the company wanted from RBZ either by persuasion or irritation. Indians believe in mutual benefits and amicable resolution of issues.

Ladies and gentlemen,

We are all aware of the current economic situation in Zimbabwe. We are also aware of the measures taken by the Government of Zimbabwe to mitigate the impact of the course corrective measures and to bring back its economic to recovery track. Government of India is supportive of this endeavor.  As for the Indian business entities, we are witness today, that no Indian company has closed shops during these difficult times. In fact, on the contrary, investments, reinvestment and expansion are taking place. What is happening today is the finest example. Few weeks ago, I participated in the inauguration of ‘Reborn Plastic’ a subsidiary of ‘Splash Paint’ that recycles waste plastics into useful plastic products. ZimGold has acquired 51% share of David White head and is ready to revive and launch its products again. In the investment front from India, the figures are puzzling. In 2016, there were 13 registrations with ZIA which came down to 7 in 2017. It shot up to 37 in 2018 and till October this year we have 39 registrations.  The above are, indeed, encouraging activities and figures for us to note.

India’s relationship with Zimbabwe is interspersed with history of bond andmutual respect. Our shared history of more than 500 years has laid the foundation for our shared and common future. This future is of building strategic partnership to fight against inequality, hunger, poverty, climate change, terrorism etc. In the development fronts, the focus is on enhanced cooperation in the areas of Trade, Business, science and Technology including space technology, Information Technology, manufacturing, Small and Medium Enterprises (SME),  Agriculture, Health, Higher and Tertiary education, media including content creation in our broadcasting services, films, sports, culture, tourism, e-governance, innovation and the list goes on.

Excellency, I wish to convey that India is committed to improving our multifaceted relationship with Zimbabwe. I take this opportunity to inform you that several Ministerial delegations from Zimbabwe Government have visited India this year on invitation by Government of India. Several business delegations from India have also visited Zimbabwe to participate in various business Conferences and exhibitions. India will stand to support your vision 2030 to make Zimbabwe a middle income country by 2030.As developing countries, your commitment toput the lives and welfare of the people before politics find complementarity with the efforts made by India under the leadership of my Prime Minister.  Excellency, your commitment to reform (both political and economic and to build strong, autonomous and democratic institutions) finds deep appreciation and support in India.

Corporate sector plays an important role in reinforcing the rich relations of our two countries. They buttress the age long historical and cordial political relationship of the two countries. Mr. Ravi Jaipuria’scontinued commitment to this economy and country is a shining example. When the wind of economic environment grows rough and tough, I continue to remind him of his optimism and confidence in this market when he made that BIG DECISION in 2016. I would like to congratulate you sir for securing a position within the first 100 in Forbes magazine. Presence of huge corporate like yours is instrumental in dispelling pessimism and negative perception about Zimbabwe market. I urge you to remain as bullish about Zimbabwe market as you were in 2016.Your business model to invest, re-invest and expand is the template message I send out to Indian business community. You doall of us proud, sir.

Excellency, I think it will not be inappropriate to also make a humble submission to the Government of Zimbabwe and in particularly, Ministry of Industry, Ministry of Finance and Reserve Bank to ensure ease of doing business in the country so that they have the incentives to invest and expand more. And should difficulties arise again in future (God forbid it does), they will have more understanding of Government’s position and difficulty. I say this because I know from the last experience how stressed they were before the board meeting. And how relieved they were when they got that one precious signature from RBZ on their paper.  Needless to mention, that as a listed company, Jaipuriaji is answerable to the shareholders.  

Excellency, Honourable Minister, ladies and gentlemen, empowered, qualifiedhuman resource continues to be the strength of Zimbabwe.  In this regard, India continues to support in capacity building ie up-gradation of skills of personnel of various Departments and Ministries through our ITEC programme and scholarship programme. We have 19 ICCR Scholarship programme for Zimbabwe of which 18 have been utilised and 219 ITEC slots of which 112 slots so far have been utilised. In 2018, India trained 219 personnel. We are also in the process of upgrading the ‘Indo-Zim Technology Centres’ by injecting US$2.91 m. This project will greatly help downstream industries thereby generating production and employment.

Excellency, Ladies and Gentlemen,

Embassy of India is in the process of creating a platform for our corporates to come together to sponsor talented students to study in India. I am happy to inform you that Indian Institute of technology (IIT) premium technical institution in India has considered our request to take MTech students sponsored by Indian corporates in Zimbabwe. Two students sponsored by ZimGold have been interviewed and selected for IIT, Palakad, Kerela. They will be joining the institution mid-session in January 2010. I have been given the privilege to announce that Varun Beverages will sponsor four MTech students to IIT and 4/5 school students in Delhi Public school. Other Corporates have committed to sponsor a total of 8 MTechstudents in the regular session starting July 2020. The Courses include Mechanical, Geo Technical, Power Electronics, Computing Mathematics, Data Science etc.  Again, I seek cooperation of GOZ and Reserve Bank to allocate Foreign Exchange for this programme so that transfer of money to the respective institution can be affected smoothly.

Let me conclude by congratulating Ravi Jaipuriaji for the keeping your commitment. I would also like to express my sincere gratitude, on behalf of Indian Corporates, for affording them the opportunity to do business in Zimbabwe. At the Govt level, I wish to reiterate, Your Excellency, India’s commitment to stand by you and your government.