List of Indian-owned Businesses Which Pumped $19 Billion into Nigeria in Four Decades
- Indian businesses have made serious inroads into the Nigerian economy in the last 40 years
- Recently, India's government stated that it has invested about $19 billion into Nigeria's economy in the last four decades
- Indian companies operating in Nigeria include Tata Group, Chi Limited, and Dana Group
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The Indian government has revealed that Indian firms operating in Nigeria have pumped about $19 billion into the economy over the past 40 years.
The Indian High Commissioner to Nigeria Shri G. Balasubramanian stated this during an interview with the News Agency of Nigeria on Wednesday, January 11, 2023, in Abuja.
Source: Getty Images
India promises cultural exchange programme with Nigeria
He noted that the relationship between the two countries has been excellent and India plans to deepen the cultural exchange program with Nigeria.
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He said the countries could corporate via information-sharing and news networks, among others.
Top largest Indian-owned companies operating in Nigeria
The bilateral trade volume between Nigeria and India crossed the $19 billion mark for the financial period of 2021 to 2022, representing an increase of 69.80 per cent.
According to reports, the ex-Prime Minister of India visited Nigeria in 2007 to raise the bilateral relationship between the two countries.
India remains Nigeria’s largest trading partner in Africa.
Indian-owned businesses in Nigeria range from automobiles to retail stores and others.
TATA Africa Services
Founded in 1868 by Indian businessman, Jamsetji Nasserwanji Tata, the conglomerate has its products in over 150 countries across six continents.
The company was established in Nigeria in 2006 with investments in excess of $10 million, offering products such as passenger vehicles, and light commercial vehicles, amongst others.
Dana Group
Dana Group is a conglomerate with businesses across major industries, founded by Jacky Hathiramani.
The company produces plastic, surgical instruments, steel, allied products, shipping and real estate.
It began its business in Nigeria with medical products and manufacturing before diversifying into the importation of industrial chemical products, among others.
Artee Group
The retail company began as a wholesale business in Nigeria in 1998.
The company also owns Spar Market, a retail store spread across Nigeria, and Park n Shop which operates in cities such as Lagos, Abuja and Port Harcourt.
Antee Group began work on three shopping mall projects in Nigeria after the success of the Port Harcourt Mall.
Me Cure Healthcare
Me Cure Healthcare was founded in 2009 and is a diagnostic service provider identifying the gap in medical diagnostics and providing dependable medical examinations.
The health facility has become a household name for imaging, pathology and cardiac-care services.
About 400 Nigerians work in Me Cure and the facility has expanded into eye care, dental care, cancer management and preventive healthcare.
Dufil Prima Foods
Dufil Prima Foods is the company behind Nigeria’s noodles staple, Indomie Instant Noodles.
The company was founded by Deepak Singhal in Nigeria in 2001 as a private limited liability company, then restructured to become a holding company in 2008.
It has six subsidiaries including Northern Noodles Limited, and Pure Flour Mills Limited.
Chi Limited
Chi Limited was registered in 1980 and became wholly owned by the Coca-Cola Company after its acquisition in 2019.
It provides direct employment to over 2,000 people in Nigeria and 50,000 throughout its value chain.
It produces various fruit juices and yoghurt variants and snacks.
Top economic sectors in Nigeria dominated by the Chinese
Legit.ng reported that as of 2019, Nigeria’s population was estimated at 203.42 million, a 2 per cent annual growth, ranking seventh most populated country in the world.
Nigeria represents 70 per cent of the West African market and remains the most competitive investment destination for businesses.
China has since positioned itself, leveraged the large population, and unleashed a horde of investors and businesses on the Nigerian market. From textile, garment making, household appliances, furniture, automobile, and consumables to fintech, the Chinese are everywhere and in almost all sectors in Nigeria.
Source: Legit.ng
