Escorts group intends to open a tractor assembling firm in Uganda
The Escorts Group, one of India’s leading engineering conglomerates operating in the high growth sectors of agri-machinery, construction & material handling equipment, railway equipment and auto components will soon be making significant investments in Uganda that will see the Company set up a tractor assembly plant in Uganda.
Out-going High Commissioner of Uganda Amb Elizabeth Paula Napeyok who led a delegation of Embassy Officials participating in the ongoing Global Exhibition on Services in Noida, India, sealed the deal at the Escorts tractor manufacturing company, Faridabad, on Tuesday April 18, 2017, The Company Executives who have already visited Uganda will make another follow-up visit to Uganda in June 2017.
The Global Exhibition on Services in which the Embassy is Exhibiting Ugandan Investment opportunities provides a platform to proliferating opportunities of trade in services, enhancing strategic cooperation and fortifying multilateral relationship between all stakeholders.
The objective is to bring all the participants, delegates, business visitors and other key decision makers from the services industry and other related industry under one roof to interact and explore new business avenues. 73 countries, including Uganda are participating this year.
The Financial year 2016/2017 saw 8 Uganda Missions abroad, including the Uganda High Commission in New Delhi receive a combined shs 4 billion to enhance Commercial Diplomacy activities.
The funds were disbursed according to proposed workplans. New Delhi Mission received shs 382,622,269 for activities under Economic and Commercial Diplomacy.
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