We’ll overtake India with purchasing power-Museveni

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President Yoweri Museveni on Wednesday met a group of Indian investors at State House, Entebbe led by Uganda’s High Commissioner to India Elizabeth Napeyok and Honorary Consul of Uganda to Mumbai Madhusudan Agrawal.

For many years Uganda has supported the prosperity of India.

“We buy goods worth more than $1 billion from India yet Uganda sells to India only $60 million,” Museveni said.

This is a one-sided prosperity arrangement, the president noted.

“I am glad the investors have expressed interest in agriculture and farm machinery, food processing, irrigation, tourism, education, healthcare and steel mining.”

He said all these are much-needed sectors and they will help to ensure prosperity for everyone.

“What I must stress is that the investors should set up shop here so that we manufacture in Uganda and sell to India and other countries.”

Whereas African economies are losing a lot of resources because there is no integration among sectors, Museveni noted, adding “I am glad that the Indian government and its Exim Bank are supporting Africa.”

He said Africa will become a big economic power soon and Indians might be slightly more in population but Africa has larger land mass and we shall overtake India with purchasing power.

“I also thank Honorary Consul Madhusudan for donating a mobile cancer screening van to the Cancer Institute at Mulago.”