India-Namibia to Explore Greater Cooperation

The governments of India and Namibia have agreed to cooperate in a number of fields, including the diamond industry. The move was announced following a meeting between an Indian delegation led by Minister of State for Commerce Jairam Ramesh and the Namibian Prime Minister Nahas Angula.

The areas of co-operation include Indian investment in industrial and social infrastructure and developing the mining and agricultural sector.

In return, India will enjoy greater direct trade in Namibia’s raw materials such as uranium and pulses.

The Indian minister said the two countries would consider setting up a joint task force to explore the possibility of a long-term and direct partnership in diamond trading, mining, sorting, grading, cutting, polishing and jewelry manufacturing. “We would like to have a formal agreement with Namibia to undertake value addition in diamond processing,” Ramesh added.

The two countries are expected to set up a joint task force or a working group that would look into the details of the collaborations and draft a final report.

The Indian gems and jewelry industry would help set up schools for Namibian jewelers as part of a regional move to ensure mineral-rich countries benefit more from their natural resources. The delegation also said that Diamond India Ltd, a company formed by over 60 of India’s leading diamond manufacturers may set up a cutting and polishing facility in Namibia.

For its part, the Namibian government reportedly indicated its willingness to grant licenses and major concessions to Indian companies for setting up diamond trading operations in the country.

The Indian delegation will also visit Angola in the next few days.