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Indian companies see Africa as growth market
Large Indian companies are focusing on emerging markets to grow their market share, primarily because established markets in Europe, the United States and parts of Asia provide too few opportunities for them, reports The New Age.
This is the view of Abdullah Verachia, programme director of the India Africa Business Network. At a presentation at the Gordon Institute of Business held last week he said that there are now 96 Indian companies "of substance" operating in South Africa.
He says the Indian multinationals are building business in the telecommunications sector as well as in hospitality, automotive and banking sectors in South Africa and in other parts of Africa as well.
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