Antananarivo – The Southern African Development Community (SADC) and India have taken fresh steps to expand bilateral trade and investment following a high-level business forum held in Madagascar on Thursday, 31 July.
Organised during the SADC Industrialisation Week, the India–SADC Business Forum drew over 100 participants, including diplomats, policy-makers, and private sector leaders from across SADC member states and India. The gathering was hosted at the Novotel Convention & Spa in Antananarivo by a coalition of institutions, including the Federation of Indian Chambers of Commerce and Industry (FICCI), the Embassy of India in Madagascar, and the SADC Business Council.
Indian businesses at the forum represented sectors such as manufacturing, agriculture, healthcare, logistics, education, and mining — all key areas of interest for SADC economies, including Eswatini.
Madagascar’s Minister of Industrialisation and Trade, David Ralambofiringa, called for stronger partnerships with Indian investors, especially in value addition, agribusiness, food processing, and public-private infrastructure projects.
India’s Ambassador to Madagascar, Bandaru Wilsonbabu, noted the growing collaboration between India and Africa, referring to a memorandum of understanding signed with SADC in July 2024 as a milestone for regional integration and development.
FICCI business mission leader Rajiv Wahi placed the forum within the context of a broader strategy to create long-term partnerships, revealing that trade between India and SADC reached around USD 40 billion during the 2024–25 financial year.
The meeting also saw the signing of two MoUs — one between FICCI and the SADC Business Council, and another between FICCI and the Federation of Indian Chambers of Commerce of Madagascar — with the aim of deepening institutional and private sector cooperation.
SADC Youth Leader Apphia Nyasha Musavengana urged both sides to ensure that women and young people are fully included in future development programmes.
Speakers from Madagascar’s trade and investment institutions shared prospects for Indian investors across sectors like ICT, pharmaceuticals, logistics, leather, and textiles — areas where SADC countries such as Eswatini are also positioning themselves to benefit from regional economic shifts.
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