Rwanda’s investor-friendly policies, stable legal framework and strict stance against corruption continue to attract Indian investors, keeping India among the country’s leading sources of foreign direct investment, Rwanda’s ambassador to India said.
Ambassador Jacqueline Mukangira made the remarks in an interview with Indian news agency IANS on Jan. 11 while attending the Vibrant Gujarat Regional Conference, a forum aimed at promoting trade and investment in India’s Gujarat state.
Mukangira said Rwanda provides an enabling environment for both domestic and foreign investors, supported by predictable regulations and institutions that ensure the rule of law and smooth business operations.
“Rwanda is a good place to invest because investors are facilitated in various ways, including tax incentives and other measures that help businesses operate efficiently,” she said. “There is zero tolerance for corruption, whether involving local or foreign investors.”
She noted that Rwanda and India maintain strong bilateral relations, particularly in trade and investment, with many Indian nationals operating businesses across Rwanda. A significant number of those investors come from Gujarat, one of India’s most industrialized states.
According to the Rwanda Development Board, India ranked as Rwanda’s second-largest source of foreign investment in 2024, behind China. China invested $460 million, representing 14.1% of total registered investments, while India followed closely with $445.1 million, accounting for 13.6%.
Mukangira said Rwanda imports a wide range of products from India, including pharmaceuticals, information technology equipment, clothing and food items such as rice and sugar. Many of these goods originate from Gujarat, reflecting the state’s strong manufacturing base and trade ties with Rwanda.
She added that economic cooperation between the two countries has been strengthened through high-level engagements in recent years. In 2018, Indian Prime Minister Narendra Modi made his first official visit to Rwanda, following visits to India by President Paul Kagame in 2017 and again in 2018.
During Modi’s visit, the two countries signed several cooperation agreements, including approval of $200 million in financial support. Modi also backed Rwanda’s Girinka Munyarwanda program, a flagship social protection initiative, by donating about 200 cows to support vulnerable households.
