High Commission of India
Lilongwe
High Commissioner’s Speech in India-Malawi Business Seminar 09 October 2025

Her Excellency Ms Christina Zakeyo, Principal Secretary for Trade & Industry

H.E  Ms Agness Jaza, Chief Executive Officer of First Capital Bank

Mr Arnold, Vice President of Malawi Confederation of Chamber of Commerce and Industry 

Ms Daisy Kambalame , CEO of MCCCI, 

friends from media and distinguished industry members  and ladies and gentlemen

Good morning! Wadzuka bwanji! Namaste!

It is my honour and privilege to address this august gathering in the city of Blantyre which is the commercial capital of Malawi.  I would like to express my sincere thanks to all of you for sparing valuable time from your busy working day schedule to attend our business event which  shows the importance you attach to do business with the fastest growing economy and emerging markets of India and explore potential opportunities offered by both India and  Malawi. 

I also take this opportunity to express my sincere  thanks to our knowledge partner E&Y  and our collaborator  Malawi Confederation Chamber of Commerce and Industry for extending their valuable  support to the High Commission in organising this event.

This event is being organized at a time when we are witnessing  a big change in Malawi where a new government under the leadership of H.E Prof  Arthur Peter Mutharika assumed charge last week and assured the people of Malawi to bring the country’s economy back on the track. 

The objective of today’s event is to bring the industry members  and business community of Malawi  close to the High Commission to bridge the information gap and promote understanding on how Indian and Malawian companies can work together for establishing win-win partnership. I am confident that the outcome of this event will contribute in developing deep understanding about India-Malawi business potentials which can be leveraged by business community present here today.

Before I move to economic and commercial subject, I would like to shed lights on the India-Malawi bilateral relations. Both countries enjoy cordial and friendly relations since the establishment of the diplomatic relations and Malawi’s independence in 1964. Our bilateral ties have been further deepened by the strong people-to-people contacts, historic trade & cultural linkages and robust development partnership. However, the present level of our bilateral trade does not reflect the true potential of our bilateral  relationship. During last financial year , the Bilateral trade was registered around USD 170 mn which is far lower  to the approx. USD 500 mn before Covid period. We can do a lot more together  for the benefit of our people. I assure you that at the political level, there is an interest and understanding to work together for fully harnessing the great  potential in our economic and commercial landscape. 

Distinguished guests, Ladies & gentlemen,

The bilateral relations are also supported by the regular exchange of high level visits and ministerial interactions  from both countries. The visit of the Honourable President of India Smt Droupadi Murmu accompanied by a high-level business delegation to Malawi last year October reinvigorated the relations. Leaders of the both countries reaffirmed their commitments  to further advance cooperation in the potential areas such as agriculture & food processing, minerals and Mining, engineering goods and farm machinery, renewable energy, pharma and healthcare sectors and digital public infrastructure, etc. We strongly believes that  there are  complimentaries and synergies exist in these areas between India and Malawi.  As we all know that  these areas are  also identified by the  Government of Malawi in its vision document & ATMM strategy. 

Dear distinguished guests, Ladies & gentlemen,

India always stands ready to extend all possible help to the friendly people of the republic of Malawi for their overall development whether its improving delivery of public services through digital governance; spreading education & literacy ; strengthening  agriculture system or capacity building. 

Our close economic partnership has been supported by robust  development assistance to Malawi in the forms of  Lines of Credit and Grants (Soft loan). Since 2009, India has offered USD 395.68 mn LOCs to Malawi. Through these LOCs, India has completed various projects such as Salima Sugar factory, Water Supply System in Blantyre, fuel storage facilities in Blantyre & Mzuzu, supply of diesel driven pumps, three cotton ginneries, Dal processing plants, etc. Apart from the above, Govt of India established Business Incubation Centre in Mponella for processing of casava, tomato and fruits under grants.  It is evident that development cooperation  and capacity-building programme  at the core of India’s partnership with Malawi as we strongly believe that empowering the youth is a precursor to make the country self reliant & economically strong.

Distinguished guests, Ladies & gentlemen,

 As many of you are aware, India is today the 4th largest economy, oldest and biggest democracy, and the most populous country on the planet. India has surpassed major economies like UK and Japan recently and is expected to reach USD 35 trillion by 2047 when India will be celebrating its 100th anniversary of independence.  As per IMF’s latest World Economic Outlook report, India continues to remain the world’s fastest-growing major economy and the only country expected to register more than 6 %  growth in the next two years. Furthermore, India’s GDP currently stands at 4.3 trillion dollar  compared to 2.1 trillion dollar in 2015. The country has more than doubled its economy in last one decade and this high rate of growth will see India’s GDP increasing to 5.5 trillion dollar in 2028 overtaking Germany to become the third-largest economy. 

This growth came as follow up to the series of major  structural economic reforms undertaken by Govt of India in last one decade  such as one Nation one tax (GST), IBC opening of almost all sectors for 100% FDI for foreign entities, repealing old colonial laws, financial inclusion through UPI etc.  

As you have noticed that we are the only major country that is not only growing at the rate of over 6% but also provides a huge market demand . As our Prime Minister says that India has the strength of three 'D's -- Demography, Democracy and Demand. When we talk about our population, it’s not quantitative, not just numbers, it is both large consumer base as well as talented and skilled workforce. 

Distinguished guests, Ladies & gentlemen,

 Our tremendous economic growth has resulted in higher disposable incomes which has led to high demand for consumer goods and products. The growing Indian middle class is the driving force behind generating a huge demand for goods and services. By 2030 Indian middle-class would be the 2nd largest global consumer which provides an ample scope for trade and economic activities between two countries. As we grow, the demand for all kind of  products especially energy, technology and agro-food commodities  is going to further rise as part of the growing progress and prosperity. We see this as really a big opportunity for Malawi which can  play its role given its significant deposits of critical minerals and rare earth elements which are essential for global energy transitions as well as futuristic technology like AI and semi-conductors industry. Furthermore Malawi can build its own capacity and develop homegrown processing industry for  agro-products to export to India which would not only help Malawi for tackling its forex scarcity but also create thousands of job for its youth.

Many of you may  be aware that India extended Duty Free Tariff Preference (DFTP) Scheme, unilateral non-reciprocal preferential tariff scheme for the LDCs including Malawi since 2008. It is worth mentioning that  India was the first developing country to introduce a preferential tariff program for the LDCs. Under the DFTP scheme, 98.2% of product categories originating from LDCs are offered duty free access to the large Indian market. Only 1.8% of product categories imported into India from LDCs are subject to attract nominal duties.  Malawi along with other African countries could optimally utilise this facility and opportunity. This scheme has become more important and vital when the US administration discontinuted the African Growth and Opportunity Act  (AGOA) from Sept 30, 2025.  

Distinguished guests, Ladies & gentlemen,

Let me conclude my remarks by underscoring  the famous proverb where there is a will and there is a way. So Malawi should act swiftly to build its domestic capacity in processing of raw materials of agri products which is found in abundance but goes waste to export to the neighboring countries esp SADC and India under AfCFTA and DFTP schemes respectively, focusing on manufacturing capabilities especially in textile & cotton, which can be  the game changer in terms of  job creations and aggressively promote tourism as service sector to get more foreign revenue coming to the country. Last but not the least, It can also quickly move on building  the digital public infrastructure which is the backbone of the economic growth now a days and enabler of the business activities .

Our High Commission in Lilongwe always stands ready to help you and provide any assistance which you need to get in touch with the right agencies in India and get the information which  you are looking for starting your business venture.

I once again thanks  to our partners – Ernst and Young and Malawi Confederation Chamber of Commerce and Industry for  supporting Indian High Commission in this endeavour and we appreciate all their hard work for putting up this business event.

Thank you !

Jai Hind Jai Bharat.