India and SADC Forge Stronger Economic Ties at Business Forum in Madagascar
India and the Southern African Development Community (SADC) have reaffirmed their commitment to deepening bilateral economic ties following the successful convening of the India–SADC Business Forum at the Novotel Convention & Spa in Antananarivo, held during the SADC Industrialisation Week.
The event was organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in collaboration with the Ministry of Industrialisation and Trade of Madagascar, the Embassy of India in Antananarivo, the SADC Business Council, the SADC Secretariat, the Federation of Indian Chambers of Commerce of Madagascar, and the Economic Development Board of Madagascar.
Bringing together over 100 participants, including government officials, diplomats, business leaders, and industry stakeholders from India and across the SADC region, the forum showcased opportunities for trade and investment cooperation. The FICCI-led business mission to Madagascar included Indian companies from sectors such as manufacturing, packaging, agribusiness, healthcare, logistics, mining, education, and skill development.
In his keynote address, Hon. David Ralambofiringa, Madagascar’s Minister of Industrialization and Trade, called for Indian investment through public-private partnerships. He emphasised value addition in agribusiness and food processing, and the importance of strengthening industrial value chains.
H.E. Bandaru Wilsonbabu, India’s Ambassador to Madagascar, highlighted the longstanding diplomatic relations between India and SADC countries and reiterated India’s commitment to Africa’s development.
He referenced the India–SADC Memorandum of Understanding signed in July 2024 and India’s willingness to collaborate in sectors such as digital technology, renewable energy, agriculture, and healthcare.
FICCI Business Mission Leader Mr. Rajiv Wahi underscored that bilateral trade reached approximately USD 40 billion in FY 2024–25. He stated that the mission aimed to build meaningful partnerships beyond transactions.
Other speakers included Mr. Isidore Razanakoto, Director General of Trade at Madagascar’s Ministry of Industrialisation and Trade; Mrs. Josielle Rafidy, CEO of the Economic Development Board of Madagascar; and Dr. Gervais Atta, President of Groupement des Enterprises de Madagascar and Chair of the SADC Business Council. They all stressed the importance of India-SADC collaboration in agriculture, pharmaceuticals, ICT, and logistics.
The forum also saw the signing of two key Memoranda of Understanding—one between FICCI and the SADC Business Council, and another between FICCI and FCCIM (Federation of Indian Chambers of Commerce of Madagascar). These MoUs are expected to enhance institutional cooperation and strengthen private sector engagement across strategic sectors.
Ms. Apphia Nyasha Musavengana, a youth leader from SADC, called for prioritising youth and women in the region’s development agenda.
The forum concluded with a strong reaffirmation by all stakeholders to drive sustainable, inclusive, and resilient economic ecosystems through enhanced cooperation between India and the SADC region.
