Tata Group has declared its intention to invest in East African farming to export agricultural product back to India.
According to Tata Africa MD, Raman Dhawan, “one of the opportunities is agriculture and East Africa is extremely important. In the next 10 to 20 years, India will be a large importer to agricultural product. And we have started looking at that.”
“We came to South Africa to build a footprint on the continent and we are looking at sectors, which are untapped such as telecoms. We have successfully managed to establish ourselves in about a dozen countries including South Africa, which we consider as a benchmark for our operations in other African countries.” he said.
The head of Strategy at KPMG, Tim Bashall noted that because of global food security concern, Agriculture industry could be the next investment trend. Sixty percent of global uncultivated land is in Africa.