Hyderabad 30th September 2020: The INDSOM Chamber of Commerce is non-government, not-for-profit organisation, it has been set up by pioneering businessmen from India and Somalia who saw the need to provide a dynamic institutional link for the promotion of commercial goodwill, and economic relation between India & Somalia, and further acts as a catalyst for export import activities ( close to Billion $), technology transfers and joint ventures.
Trade between India and the Horn of Africa dates back to the Ancient times, bilateral trade between Somalia & India totalled US$ 600 Million per year in recent years, India has emerged as the fastest growing major economy in the world and is expected to be one of the top three economic powers over the next 10-15 years.
Somalia is on its way to economic recovery and is a huge potential market for most modern services. The country aims to exploit the natural resources of petroleum and fisheries while the agriculture, livestock and manufacturing require very sophisticated production activities and huge investment in both domestic and international levels. Based on this aspect, recent business related legal reforms and establishing an attractive environment created a good opportunity for investors and the business sector.
The Momentum is already built into growth trajectory and the underlying potentials between Our two economies makes INDSOM Chamber of Commerce the perfect platform that offers informal and institutional investors investable businesses by sourcing, selecting and preparing SME’s for an investment and will encourage young enthusiastic entrepreneurs to do business in both countries, Says Dr. lion Y. Kiron, Founder of Indsom chamber of commerce.
Chief Guest of the event Shri. Jayesh Ranjan IAS Principal Secretary of the Industries & Commerce (I&C) and (IT) Departments of the Telangana government Told that the government of Telangana will support the INDSOM Chamber of commerce in promoting Trade and commerce.