A week-long promotional tour in India by a Moroccan group led by Mohcine Jazouli, Minister Delegate in charge of Investment, Autonomy, and Assessment of Public Vehicles, ended with the goal of showcasing the Moroccan offer and luring investments from Indian businesses.
It encompassed the cities of Ahmedabad, Ahmedabad, and New Delhi.
Meetings with several executives of Indian firms were part of the promotional tour, which was put together by the Moroccan Agency for the Promotion of Investments and Exports in collaboration with the Moroccan Embassy in India. The meetings were held to promote investment opportunities in the Kingdom and discuss ways to expand their commercial activity.
Given that India has one of the world’s five largest economies and has shown interest in making investments in the Kingdom of Morocco over the past several years by focusing on the African, European, and American markets, the Kingdom is banking on India to become a significant economic partner for it.
The Indian delegation also met with a number of government representatives, including Piyush Goyal, the minister of trade and industry. Goyal expressed his admiration for what Morocco has accomplished in terms of creating an infrastructure and business climate that is conducive to investment while also reiterating that India is keen to promote investment in the Kingdom.
The development of cooperation with India in the areas of information technology, fertilizers, the automobile industry, and renewable energies is what Rabat is mostly banking on. In the upcoming months, a trip to Morocco is anticipated by the Indian Ministry of Industry and Commerce.
The most notable Moroccan industry that would be of interest to India is the automotive sector, which ranked second in terms of exports last year and ranked first in terms of non-EU exports to Europe with a production capacity of roughly 1 million cars.
The advertising campaign also sought to highlight renewable energy as a crucial area for Indian investment.
Given the expertise he has acquired in this area in Morocco, where about 40% of the electricity produced at now comes from renewable sources, and the cheap cost of doing so.
The new investment agreement, which accounts for around 30% of the overall gross investment, has been introduced to large Indian enterprises.
Since India sends a wide variety of goods to the Kingdom, including mobile phones, petroleum products, honey, textiles, and auto parts, the value of trade exchanges with Morocco has reportedly hit 3.2 billion dollars, or roughly MAD 33 billion, for the first time.
India is the recipient of several Moroccan exports. include chemicals, raw minerals, phosphoric acid, and phosphates.
Several Indian businesses have decided to relocate to Morocco. For the automotive industry, these include “Tata Motors” and “Mahandria,” as well as “Samta,” which operates in the metals industry, and “HCL,” a business that makes investments in the offshoring industry.