Cheap land costs and increasing food prices have prompted Indian companies to invest in buying land overseas. There are about 80 Indian companies who have purchased land in Africa to grow agricultural products. The total investment is around £1.5 billion (about Rs 11,300 crore). Some of the companies which has invested in Africa are Kolkata-based Kankaria group (manufacturing and textiles), Kommuri Agrotech (floriculture and horticulture), Surya Electrical (electrical products), Karuturi Agro Processing, AVR Engineering (construction), Nelvo International (minerals), Allied Chemicals, BP Jewellery, KSR Earthmovers.
Africa has about 807 million hectare of cultivable land. Currently only about 197 million hectare is being cultivated. Indian companies have purchased lands in Oromia, Addis Ababa in Ethiopia, Port Sudan, Khartoum and Suwakin in Sudan, and in Nairobi in Kenya. The trend is expected to continue as food prices reached record level (December last year) due to slow production because of worst monsoon since 1972.
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