KAMPALA, Uganda — Uganda is courting Indian investors as it seeks to bridge a significant trade deficit with its South Asian partner.
The East African nation’s trade imbalance with India has been growing, with Uganda’s imports from India totaling $1.1 billion in 2022, while its exports to India were valued at just $27 million.
To address this imbalance, Ugandan officials are touting the country’s investment opportunities, particularly in sectors such as agriculture, manufacturing, and energy.
“We want to encourage Indian investors to look beyond trade and explore opportunities for investment in Uganda,” said Colonel Edith Nakalema, head of the State House Investors Protection Unit (SHIPU).
Nakalema met with representatives of the Indian Business Forum in Kampala to discuss ways to strengthen investment ties between the two countries.
India is one of Uganda’s largest trading partners, and the two countries have been working to strengthen their economic ties in recent years.
However, the significant trade deficit remains a concern for Ugandan officials, who are seeking to diversify the country’s economy and reduce its reliance on imports.
By attracting more Indian investment, Uganda hopes to create new jobs, stimulate economic growth, and reduce its trade imbalance with India.
“We believe that there are many opportunities for Indian investors in Uganda, and we are committed to creating a favorable business environment to support their investments,” Nakalema said.
