The Hinduja Group, an Indian multinational company, is negotiating to establish an electric bus assembly unit within the region. They also made other proposals to the federal government that includes operations in financial markets, agribusiness, and minerals, according to a report in Jornal de Angola on March 28, 2022.
On Saturday, March 26, 2022, during the business forum organized by the India-Africa Economic Foundation (IAEF), Prakash Hinduja revealed that the achievements of the electric bus unit and other projects had been reported well assessed by the government. IN Expo 2020 Dubai, Angola Prakash Hinduja also stated that important decisions are expected to be made in the coming months.
The IAEF is a financial institution that helps private enterprises and MSMEs facilitate the development of knowledge, industry, investment, technology, and trade between Africa and India. Prakash Hinduja stated that the proposal focuses on gold exploration and jewelry cutting when asked about investment in mineral resources. Predicting the promotion of ties between the two groups could lead to the development of innovation, new solutions, and activities.
The Hinduja group sees it as an opportunity to develop a strong relationship between the two regions. He says that Indian organizations are more than willing to increase their influence on the continent's economy. The Angolan ambassador to UAE, Albino Malungo, was also part of the meeting and highlighted India's efforts to support Angola's economic development and industrial growth.
The Hinduja Group runs activities in over 100 countries and handles direct operations around 38 countries. They operate globally and are considered one of the world's largest and most diversified groups. The group has invested in 11 industries, from automobiles to banking and IT services.