Indian Origin- Rwandan Businessman, Dr. Saurabh Singhal obtain the Highest Business Award in India through Mr. Harsh Malhotra, Minister of State, Ministry of Corporate Affairs, Transport & Highways and Sh Sunil Singhi, Chairman, National Traders Welfare Board, Ministry of Commerce & Industry, Government of India.

The event which took place at Constitution Club of India, New Delhi on
24 August 2024, was organised by the Federation of Trade and Industry of India(FTII), composed of 27 member of states of India.

It was a momentous occasion that brought together dignitaries from over 40 countries.

The conference was a resounding success, characterized by productive discussions, networking opportunities, and a renewed commitment to bilateral trade and economic cooperation.

During the event, Dr Saurabh Singhal, Chairman, India Africa Business forum shared information among Indian Medium and Small Enterprises Investors, about the advantages of investment in Rwanda.

He mentioned that Africa today is seen as the one of the largest untapped potential destinations for investments due to its rich natural resources.

Indian investors can make smart strategic move to invest in Rwanda
because of low risk factors, strategic regional positioning, great connectivity, growing private sectors and preferential tax rates in the region.

Rwanda continues to be an attractive location for foreign investment. It is one of the world’s fastest growing economies and has an enabling business environment with growing private sector.

Rwanda having a stable government that has a plan and implements it. According to the IMF World Economic
Outlook for April 2024, Rwanda is one of the fastest growing economies in Africa in 2024 alongside Niger, Senegal and South Sudan, while the world worries about an economic slowdown, Rwanda
continues to march forward and is growing at around 8%.

Trade between Rwanda and India has increased in recent years, with both countries’ exports growing at annualized rates of at least 176% over the past five years India imports many raw materials from Africa, including minerals, crude oil, and other resources.

Increased engagement allows India to secure reliable sources of these resources. African countries
have been impressed that India no longer allows the West to dictate its morality.

India’s biggest masterstroke was its effort to ensure the AU’s inclusion in the G20. In 2025, South Africa will host the
G20, a group of 19 countries, the African Union, and the European Union that represents 67% of the world’s population, 75% of world trade, and 85% of the global economy.

The Indian government has
taken significant steps in preparing the Indian private sector to look to Africa for investment opportunities and contribute to value addition and economic growth on the continent.

Dr Saurabh Singhal during his current Indian visit will meet several others Chamber of commerce and Export Promotion Councils of India for investments in Rwanda and to increase trade between the two nations.