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Pune, 10th September 2023: As India takes on the presidency of the G-20, global leaders, including Prime Ministers and Presidents from leading countries, are converging in India for this conference. Representatives from African nations are also participating in this event.
In an effort to foster business opportunities for Indian companies in Nigeria, C. Darl Uzu, the Founder and Chief Operating Officer of Enyimba Economic City Development (EECD), is presently in Delhi for the G-20 meeting. Vishal Jadhav, Founder and Managing Director of Crescendo Worldwide, informed that Uzu’s visit to Pune will span from September 10th to 13th, aiming to encourage Indian investors.
EECD – Enyimba Economic City Development (EECD) operates as a Special Economic Zone (SEZ) under the Made in Nigeria for Export (MINE) program, initiated by the Federal Government of Nigeria, with Free Trade Zone status. EECD is a transformative initiative in Nigeria, envisioned to establish a dynamic and sustainable economic hub. This ambitious project is designed to drive industrialization, innovation, and economic growth, positioning Nigeria as a key player in the global marketplace.
C. Darl Uzu, the Founder and Head of Operations of EECD, is visiting Pune from September 10th to 13th, 2023, with the goal of enticing investments from Indian investors keen on exploring opportunities in Nigeria, especially within the EECD framework. This visit is closely tied to the facilitation of generous incentives offered by local, state, and federal governments to Indian companies engaging in business within the EECD.
Crescendo Worldwide, India’s leading International Trade & Foreign Direct Investment supporting organization, has successfully introduced more than 46 companies across a spectrum of sectors that are eager to expand their operations in EECD. These companies also have plans for re-exports to other African countries, positioning Nigeria as a strategic location.
Vishal Jadhav, Founder & Managing Director at Crescendo Worldwide, emphasized that EECD offers a plethora of investment opportunities, particularly in urban infrastructure development, making it an attractive prospect for investment companies looking to participate in EEDC as investors.
Kaushal Shah, Associate Vice President at Crescendo Worldwide, stated, “Indian investors aiming for a brighter future in sectors related to Automotive, Healthcare, Packaging, Electronics, and Electricals should seize this golden opportunity.” Over the last few years, Crescendo Worldwide has played an exclusive role as a business partner of EECD, facilitating Indian companies in expanding their operations in Nigeria.
As part of the investment authority and support, Crescendo Worldwide will also lead a delegation of 13 companies on a visit to EECD Nigeria. During this visit, they will assess the facility and discuss and finalize their next plan of action for investments.
In the fiscal year 2022, India ranked among Nigeria’s top 5 trading partners. Bilateral trade volume between these two nations reached a substantial US$ 11.8 billion in FY22. India’s exports to Nigeria amounted to US$ 5,159.44 million, while imports from Nigeria reached US$ 6,692.65 million during the same period. Additionally, Nigeria hosts more than 135 companies with Indian ownership and/or operation, boasting an estimated investment of approximately US$ 19.3 billion. These Indian enterprises are actively engaged in various sectors, including pharmaceuticals, power and transmission, manufacturing, consumer goods retail, construction, and air services.
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