Gagan Gupta – He was born in Rajasthan on January 11TH 1976, he is the second son of a family of two children. He is president of Olam International Ltd. And is currently Ola’s Country head in Gabon. He joined Olam in 2009 and has led the transformational growth of Olam in Gabon. He conceptualized the idea of SEZ and other public private partnerships with the government of Gabon.
With over 15 years of experience, he is chartered accountant by trade and has attracted more than US$ 5 billion investment in Gabon.
He oversees 4,500 staff based out of sex different locations and 4 business unit (Palm Rubber, SEZ anf Fertilizer) representing investment of over US$ 2.5 billion.
About Creating Value for Indian Investors –
Soon after his arrival in Gabon Gagan took the opportunity of the new vision and ambitious future the country was starting to promote to establish, the Olam-Gabon partnership in 2010: empowering the country to develop its natural resources while diversifying its agricultural and industrial makeup.
Indeed, in 2010 Government of Gabon banned export of round logs in order to promote secondary and tertiary processing off wood products in the country to ensure development of industry, creation of employment and value creation. The Special Economic Zone was conceived with the following objectives.
- Attracting industries that would be involved secondary and tertiary transformation of wood products and would be cost competitive in international markets.
- Attracting industries that would manufacture products which can transform existing natural resources and be cost competitive locally
- Attractive industries which would replace imported products and cater to domestic and regional market aided by tariff barriers
The creation of the Nkok Special Economic Zone (SEZ) gave the country an economic instrument of Choice, to ensure healthy and competitive business.
Previously, he also served at global companies like Reebok and Reckitt Benckiser for over 10 years.
The Special Economic Zone has been able to attract investment of $ 1.7 billion (FDI) in last 4 years compared to average non-oil FDI of less than $ 50 million over last 10 years. As part of the partnership over 40 road-shows were organized in 10 plus countries to attract investment into Gabon.
There are already six Indian companies installed in the industrial zone :
- Shinago : sawmill (from Tamilnadhu)
- Resurgent Gabon : sawmill (from Kolkata)
- Krishna Inc : sawmill (from Rajasthan)
- Otim Veneers : sawmill (from Maharashtra)
- Africa Alloys : battery recycling (form Punjab)
- Abhijeet : Ferroalloys (from Nagpur)
All these investors benefit key advantages in investing in the Nkok SEZ:
- Income Tax holiday for 10 years & then concessional tax to 10% for next 5 years
- Complete waiver on import of material & export of manufactured product
- Duty exemptions on import of Plant & Machinery and spares
- Exemption of VAT (Value Added Tax)
Relaxations & waivers
- Concession on power tariff
- 100% repatriation of funds
- Relaxed labor laws
- Up to 5% DTA sales permitted without any tax implication
Regulatory and statutory clearances
Ever since 2010, Gabon has been focused on attracting investment from India. Traditionally there has been very small manufacturing base in the country with most of products being imported.
Many opportunities are there to establish in sectors like transformer manufacturing, cable manufacturing, computer assembling, waste paper recycling, plastic waste recycling, electrical panel and transformer manufacturing, tire remolding and recycling, electrical fittings manufacturing, plastic and paper lags, cotton cloth printing, glucose manufacturing and aluminum recycling.
An ambassador of Indian culture in Gabon
Despite his expatriation thousands of kilometers away from home, Gagan is keen on being the standard bearer of Indian culture being host of religious and cultural parties for hundreds of Indian leaving in Gabon.
Two or three times a year he hosts Holi an Diwali parties to also get locals to discover these highlights of Indian culture.
About Olam International Limited
Olam International is a leading global integrated supply chain manager and processor of agricultural products and food ingredients, supplying various products across 16 platforms to over 13,600 customers worldwide. From a direct presence in more than 65 countries with sourcing and processing in most major producing countries, Olam has built a global leadership position in many of its businesses. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam is a component stock in the Straits Times Index (STI), MSCI Singapore Free S&P Agribusiness Index and the DAX global Agribusiness Index. Olam is the only Singapore firm to be named in the 2009, 2010 and 2012 Forbes Asia Fabulous 50, an annual list of 50 big-cap and most profitable firms in the region, it is also the first and only Singapore company to be named in the 2009 lists for the Global Top Companies for Leaders and the Top Companies for Leaders in the Asia Pacific Region by Hewitt Associates, the RBL Group and Fortune.