Namibia plans to export diamonds and semi-precious stones directly to India

In a bid to further boost its bilateral trade, Namibia is exploring options of exporting diamonds and semi-precious stones directly to India rather than exporting through other countries, according to a senior Namibian government official.

“Currently our diamonds and semi-precious stones are exported via London to India, and we want to change that so that these products can be exported directly to India,” said Gabriel P Sinimbo, High Commissioner for the Republic of Namibia.

“Similarly, Namibia can source agricultural tools and machinery, information technology and many other products from India,” he added.

Sinimbo was addressing the India-Namibia Business Summit organized by the India-Namibia Trade Commission in the city on Tuesday.

In 2018-2019, India-Namibia bilateral trade stood at $135.92 million, with India’s exports valued at $82.37 million while imports stood at $53.55 million. dollars.

India’s current exports to Namibia include pharmaceuticals, cereals and cereal preparations, sugar and sweets, meat and edible products, glass and glass plastics, metal fabricators, machine tools and transport equipment, among others.

On the other hand, Namibia exports precious and semi-precious stones, iron and steel, zinc, non-ferrous metals, machinery and electrical equipment.

Indian investment

“India is one of Namibia’s six major trading partners. India remains an important strategic partner both as a market and as a source of FDI,” Sinimbo said.

He also noted that many Indian companies have invested in Namibia, including Vedanta, Indian GPT Group of Companies (in joint venture with Trans-Namib) and many other companies in the fields of energy, agriculture, of irrigation, health, diamond cutting and polishing as well as in detail.

“There is still a vast business opportunity in Namibia in agro-progression, pharmaceuticals, food processing, solar energy, IT, gemstones and jewellery, education and manufacturing,” he added.

Noting that most African countries except a few are not well developed in terms of manufacturing, Mr. Sinimbo said this is the reason why Africa is a net importer of most commodities, including foodstuffs.

He pointed out that Namibia is located in a strategic region and those who establish manufacturing plants in the country will be able to serve the entire African market.

Earlier today, the Namibian High Commissioner inaugurated the office of the Namibia Trade Commission in Chennai. The office was set up by the India-Africa Business Council (IATC) in collaboration with the India-Namibia Business Forum (INTF).

About the author