Lok Sabha Question No. 1186 (UNSTARRED), answered on 2019-11-25
Subject: Capital Investment
Ministry: FINANCE
Asked by: Chandeshwar Prasad

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS LOK SABHA UNSTARRED QUESTION NO.1186 TO BE ANSWERED ON 25 th  NOVEMBER (MONDAY), 2019 AGRAHAYANA 4, 1941(SAKA)

## CAPITAL INVESTMENT

## †1186. SHRI CHANDESHWAR PRASAD:

Will the MINISTER OF FINANCE be pleased to state:

- (a) whether the Government is taking several encouraging steps to promote capital investment abroad;
- (b) if so, the details of the steps taken in this regard during the last three years;
- (c) the details of announcements made in this regard so far; and
- (d) the details of capital investment abroad during the said period, nation-wise?

## ANSWER Minister of State (Finance) (ShriAnurag Singh Thakur)

- (a) To (d):  Yes Sir.   The steps taken by the Government to promote capital investment abroad during last three years, inter-alia, include the following:
- (i) Certification requirement by Statutory Auditors of Indian Party  under   Regulation 15 sub-regulation (v) of  Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations 2004  was amended by the Reserve Bank of India vide Notification  No.FEMA.369/2017-RB  dated  14 th November,  2017  to  facilitate  the Statutory Auditors of the Indian Party certify  that law of the host country does not mandatorily require auditing of the books of accounts of JV/WOS and the figures in the  Annual  Performance  Report  (APR)  are  as  per  the  unaudited  accounts  of  the overseas JV/WOS.
- (ii) In  order  to  align  the  FEMA guidelines with the objectives of FATF,  a clause was inserted    under  Regulation  6  sub-regulation  (2)  of  Foreign  Exchange  Management (Transfer or Issue of any Foreign Security) Regulations 2004 by the Reserve Bank of India vide Notification No.FEMA.382/2016-RB dated  2 nd January, 2017, prohibiting an Indian party from making direct investment in an overseas entity   located in the countries identified by the FATF as 'non co-operative countries and territories'.

The details capital investment abroad by Indian entities, nation-wise, during last three years are at Annexure.

*****

Annexure to Lok Sabha Unstarred Question No.1186 for 25 th November, 2019

| Country wise Capital Investments in Foreign Countries from 01.04.2016 to 31.10.2019   | Country wise Capital Investments in Foreign Countries from 01.04.2016 to 31.10.2019   | Country wise Capital Investments in Foreign Countries from 01.04.2016 to 31.10.2019   | Country wise Capital Investments in Foreign Countries from 01.04.2016 to 31.10.2019   | Country wise Capital Investments in Foreign Countries from 01.04.2016 to 31.10.2019   | Country wise Capital Investments in Foreign Countries from 01.04.2016 to 31.10.2019   | Country wise Capital Investments in Foreign Countries from 01.04.2016 to 31.10.2019   | Country wise Capital Investments in Foreign Countries from 01.04.2016 to 31.10.2019   |
|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------|
| COUNTRY                                                                               | Equity (1)                                                                            | Loan (2)                                                                              | Guarantee Invoked (3)                                                                 | Guarantee Issued (4)                                                                  | TOTAL (1+2+4)                                                                         | TOTAL (1+2+3)                                                                         | TOTAL (1+2+3+4)                                                                       |
| AFGHANISTAN                                                                           | 0.71                                                                                  | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0.71                                                                                  | 0.71                                                                                  | 0.71                                                                                  |
| ALGERIA                                                                               | 7.93                                                                                  | 0                                                                                     | 0                                                                                     | 13.4                                                                                  | 21.33                                                                                 | 7.93                                                                                  | 21.33                                                                                 |
| ARGENTINA                                                                             | 0.33                                                                                  | 1.03                                                                                  | 0                                                                                     | 0                                                                                     | 1.36                                                                                  | 1.36                                                                                  | 1.36                                                                                  |
| AUSTRALIA                                                                             | 123.08                                                                                | 72.05                                                                                 | 0                                                                                     | 100.93                                                                                | 296.06                                                                                | 195.13                                                                                | 296.06                                                                                |
| AUSTRIA                                                                               | 5.76                                                                                  | 5.15                                                                                  | 0                                                                                     | 19.98                                                                                 | 30.89                                                                                 | 10.91                                                                                 | 30.89                                                                                 |
| AZERBAIJAN                                                                            | 235.78                                                                                | 0                                                                                     | 0                                                                                     | 0                                                                                     | 235.78                                                                                | 235.78                                                                                | 235.78                                                                                |
| BAHAMAS                                                                               | 18.58                                                                                 | 0                                                                                     | 0                                                                                     | 135.71                                                                                | 154.29                                                                                | 18.58                                                                                 | 154.29                                                                                |
| BAHRAIN                                                                               | 3.33                                                                                  | 6.54                                                                                  | 0                                                                                     | 14.04                                                                                 | 23.91                                                                                 | 9.87                                                                                  | 23.91                                                                                 |
| BANGLADESH                                                                            | 128.19                                                                                | 8.97                                                                                  | 0                                                                                     | 588.03                                                                                | 725.19                                                                                | 137.16                                                                                | 725.19                                                                                |
| BARBADOS                                                                              | 0.03                                                                                  | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0.03                                                                                  | 0.03                                                                                  | 0.03                                                                                  |
| BELARUS                                                                               | 2.96                                                                                  | 0.78                                                                                  | 0                                                                                     | 0                                                                                     | 3.74                                                                                  | 3.74                                                                                  | 3.74                                                                                  |
| BELGIUM                                                                               | 26.53                                                                                 | 20.82                                                                                 | 0                                                                                     | 32.6                                                                                  | 79.95                                                                                 | 47.35                                                                                 | 79.95                                                                                 |
| BENIN                                                                                 | 0.01                                                                                  | 0.1                                                                                   | 0                                                                                     | 0                                                                                     | 0.11                                                                                  | 0.11                                                                                  | 0.11                                                                                  |
| BERMUDA                                                                               | 490.46                                                                                | 0                                                                                     | 0                                                                                     | 6.22                                                                                  | 496.68                                                                                | 490.46                                                                                | 496.68                                                                                |
| BHUTAN                                                                                | 16.51                                                                                 | 0.04                                                                                  | 0                                                                                     | 0                                                                                     | 16.55                                                                                 | 16.55                                                                                 | 16.55                                                                                 |
| BOTSWANA                                                                              | 18.24                                                                                 | 12.95                                                                                 | 0                                                                                     | 0                                                                                     | 31.19                                                                                 | 31.19                                                                                 | 31.19                                                                                 |
| BRAZIL                                                                                | 178.99                                                                                | 56.56                                                                                 | 0                                                                                     | 30.14                                                                                 | 265.69                                                                                | 235.55                                                                                | 265.69                                                                                |
| BRITISH VIRGIN ISLANDS                                                                | 297.03                                                                                | 98.55                                                                                 | 157.51                                                                                | 268.5                                                                                 | 664.08                                                                                | 553.09                                                                                | 821.59                                                                                |
| BRUNEI                                                                                | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     |
| BULGARIA                                                                              | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     |
| BURKINO FASO                                                                          | 0                                                                                     | 1.29                                                                                  | 0                                                                                     | 0                                                                                     | 1.29                                                                                  | 1.29                                                                                  | 1.29                                                                                  |
| CAMBODIA                                                                              | 3.61                                                                                  | 2.85                                                                                  | 0                                                                                     | 0.08                                                                                  | 6.54                                                                                  | 6.46                                                                                  | 6.54                                                                                  |
| CAMEROON                                                                              | 0.17                                                                                  | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0.17                                                                                  | 0.17                                                                                  | 0.17                                                                                  |
| CANADA                                                                                | 124.72                                                                                | 62.5                                                                                  | 0                                                                                     | 76.77                                                                                 | 263.99                                                                                | 187.22                                                                                | 263.99                                                                                |
| CAYMAN ISLAND                                                                         | 106.16                                                                                | 118.16                                                                                | 973.72                                                                                | 4939.95                                                                               | 5164.27                                                                               | 1198.04                                                                               | 6137.99                                                                               |
| CENTRAL AFRICAN REPUBLIC                                                              | 0.02                                                                                  | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0.02                                                                                  | 0.02                                                                                  | 0.02                                                                                  |
| CHANNEL ISLAND                                                                        | 3325.79                                                                               | 0                                                                                     | 0                                                                                     | 0                                                                                     | 3325.79                                                                               | 3325.79                                                                               | 3325.79                                                                               |
| CHILE                                                                                 | 4.01                                                                                  | 16.35                                                                                 | 0                                                                                     | 30.7                                                                                  | 51.06                                                                                 | 20.36                                                                                 | 51.06                                                                                 |
| CHINA                                                                                 | 154.91                                                                                | 28.32                                                                                 | 0                                                                                     | 81.7                                                                                  | 264.93                                                                                | 183.23                                                                                | 264.93                                                                                |
| COLOMBIA                                                                              | 158.63                                                                                | 0.04                                                                                  | 0                                                                                     | 0                                                                                     | 158.67                                                                                | 158.67                                                                                | 158.67                                                                                |
| CONGO                                                                                 | 10.72                                                                                 | 2.45                                                                                  | 0                                                                                     | 0                                                                                     | 13.17                                                                                 | 13.17                                                                                 | 13.17                                                                                 |
| COSTA RICA                                                                            | 5.78                                                                                  | 0                                                                                     | 0                                                                                     | 0                                                                                     | 5.78                                                                                  | 5.78                                                                                  | 5.78                                                                                  |
| CROATIA                                                                               | 4.76                                                                                  | 18.6                                                                                  | 0                                                                                     | 11.06                                                                                 | 34.42                                                                                 | 23.36                                                                                 | 34.42                                                                                 |
| CYPRUS                                                                                | 810.42                                                                                | 439.74                                                                                | 0                                                                                     | 597.41                                                                                | 1847.57                                                                               | 1250.16                                                                               | 1847.57                                                                               |
| CZECH REPUBLIC                                                                        | 0.99                                                                                  | 0.56                                                                                  | 0                                                                                     | 0                                                                                     | 1.55                                                                                  | 1.55                                                                                  | 1.55                                                                                  |
| DENMARK                                                                               | 35.46                                                                                 | 102.76                                                                                | 0                                                                                     | 0                                                                                     | 138.22                                                                                | 138.22                                                                                | 138.22                                                                                |
| DOMINICAN REPUBLIC                                                                    | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     | 0                                                                                     |
| ECUADOR                                                                               | 2.7                                                                                   | 0                                                                                     | 0                                                                                     | 0                                                                                     | 2.7                                                                                   | 2.7                                                                                   | 2.7                                                                                   |

Contd…2/-

| EGYPT           |   51.82 |   88.56 |     0 |   56.03 |   196.41 |   140.38 |   196.41 |
|-----------------|---------|---------|-------|---------|----------|----------|----------|
| ESTONIA         |    0.12 |    0    |  0    |    0    |     0.12 |     0.12 |     0.12 |
| ETHIOPIA        |   45.81 |   20.66 |  0    |    8.85 |    75.32 |    66.47 |    75.32 |
| EUROPIAN UNION  |    0    |    0    |  0    |    0    |     0    |     0    |     0    |
| FIJI            |    0.08 |    0    |  0    |    0    |     0.08 |     0.08 |     0.08 |
| FINLAND         |   22.29 |    2.03 |  0    |    9.73 |    34.05 |    24.32 |    34.05 |
| FRANCE          |   26.53 |   39.05 |  4.96 |   55.77 |   121.35 |    70.54 |   126.31 |
| GABON           |   24.05 |    4.59 |  0    |    0    |    28.64 |    28.64 |    28.64 |
| GAMBIA          |    0.03 |    0.29 |  0    |    0    |     0.32 |     0.32 |     0.32 |
| GEORGIA         |    1.48 |    0    |  0    |    0    |     1.48 |     1.48 |     1.48 |
| GERMANY         |  370.07 |  100.49 | 14.11 |  652.87 |  1123.43 |   484.67 |  1137.54 |
| GHANA           |   45.98 |   10.34 |  0    |    9.1  |    65.42 |    56.32 |    65.42 |
| GIBRALTER       |    0    |    1.5  |  0    |    0    |     1.5  |     1.5  |     1.5  |
| GREECE          |    6.61 |    0    |  0    |    0    |     6.61 |     6.61 |     6.61 |
| GUATEMAL        |    0.48 |    2.08 |  0    |    1.81 |     4.37 |     2.56 |     4.37 |
| GUERNSEY        |    0.03 |    0    |  0    |    0    |     0.03 |     0.03 |     0.03 |
| GUINEA REPUBLIC |    2.22 |    1.11 |  0    |    0    |     3.33 |     3.33 |     3.33 |
| GUYANA          |    4.61 |    0.18 |  0    |    0    |     4.79 |     4.79 |     4.79 |
| HONGKONG        |  267.13 |   26.94 |  0    |  634.97 |   929.04 |   294.07 |   929.04 |
| HUNGARY         |    7.35 |    0.36 |  0    |    0    |     7.71 |     7.71 |     7.71 |
| IFSC GIFT CITY  |   79.95 |    1.94 |  0    |    0.42 |    82.31 |    81.89 |    82.31 |
| INDONESIA       |  331.35 |   44.62 |  0    |  137.55 |   513.52 |   375.97 |   513.52 |
| IRAN            |    0.04 |    0    |  0    |    0    |     0.04 |     0.04 |     0.04 |
| IRAQ            |    0.21 |    0    |  0    |    0    |     0.21 |     0.21 |     0.21 |
| IRELAND         |   38.01 |   85.76 | 50.7  |  599.39 |   723.16 |   174.47 |   773.86 |
| ISLEOFMAN       |   39.66 |    0.21 |  0    |   17.94 |    57.81 |    39.87 |    57.81 |
| ISRAEL          |   39.51 |    1.87 |  0    |    1.25 |    42.63 |    41.38 |    42.63 |
| ITALY           |   54.81 |   28.84 |  0    |  422.96 |   506.61 |    83.65 |   506.61 |
| IVORY COAST     |    9.3  |    0    |  0    |    0    |     9.3  |     9.3  |     9.3  |
| JAPAN           |  132.01 |  312.48 |  0    |    5.87 |   450.36 |   444.49 |   450.36 |
| JERSEY          |  250.38 |   71.74 |  0    |  548.11 |   870.23 |   322.12 |   870.23 |
| JORDAN          |  107.65 |    7.6  |  0    |   43.12 |   158.37 |   115.25 |   158.37 |
| KAZAKHISTAN     |  365.79 |    0    |  0    |    0    |   365.79 |   365.79 |   365.79 |
| KENYA           |   18.47 |   33.13 |  0    |   32.96 |    84.56 |    51.6  |    84.56 |
| KUWAIT          |    7.12 |    0    |  0    |    0    |     7.12 |     7.12 |     7.12 |
| KYRGYZ REPUBLIC |    0    |    0    |  0    |    0    |     0    |     0    |     0    |
| LAOS            |    7.77 |    0.6  |  0    |    0.48 |     8.85 |     8.37 |     8.85 |
| LATVIA          |    0.04 |    0    |  0    |    0    |     0.04 |     0.04 |     0.04 |
| LIBERIA         |    0.05 |    0    |  0    |    0    |     0.05 |     0.05 |     0.05 |
| LIBYA           |   47.46 |    0    |  0    |    0    |    47.46 |    47.46 |    47.46 |
| LITHUANIA       |    0.12 |    0    |  0    |    0    |     0.12 |     0.12 |     0.12 |
| LUXEMBOURG      |  122.42 |  230.45 |  5.03 |  313.5  |   666.37 |   357.9  |   671.4  |
| MALAWI          |    0.62 |    1.26 |  0    |    0    |     1.88 |     1.88 |     1.88 |

Contd….3/-

Contd….4/-

| MALAYSIA               |   68.29 |   19.31 |      1 | 186.58     |   274.18 |     88.6 |   275.18 |
|------------------------|---------|---------|--------|------------|----------|----------|----------|
| MALDIVES               |   15.32 |    2.72 |   0    | 1.43       |    19.47 |    18.04 |    19.47 |
| MALI                   |    0.04 |    0.44 |   0    | 0          |     0.48 |     0.48 |     0.48 |
| MALTA                  |    2.29 |    0    |   0    | 0          |     2.29 |     2.29 |     2.29 |
| MARSHALL ISLAND        |    2.75 |    0    |   0    | 55.76      |    58.51 |     2.75 |    58.51 |
| MAURITANIA             |    0.47 |    0    |   0    | 0          |     0.47 |     0.47 |     0.47 |
| MAURITIUS              | 5907.41 | 3129.31 | 613.92 | 9171.34    | 18208.1  |  9650.64 | 18822    |
| MEXICO                 |    5.47 |   19.59 |   0    | 16.68      |    41.74 |    25.06 |    41.74 |
| MOROCCO                |   68.93 |   22.22 |   0    | 1.15       |    92.3  |    91.15 |    92.3  |
| MOZAMBIQUE             |  162.45 |    9.37 |   0    | 11.55      |   183.37 |   171.82 |   183.37 |
| MYANMAR                |  247.56 |    0.45 |   0    | 8          |   256.01 |   248.01 |   256.01 |
| NAMIBIA                |    0.12 |    0.41 |   0    | 0          |     0.53 |     0.53 |     0.53 |
| NEPAL                  |   62.05 |    4.11 |   0    | 45.61      |   111.77 |    66.16 |   111.77 |
| NETHERLANDS            | 1645.16 | 2364.3  |  74.19 | 5626.3     |  9635.76 |  4083.65 |  9709.95 |
| NEW ZEALAND            |   37.86 |    2.65 |   0    | 4.5        |    45.01 |    40.51 |    45.01 |
| NIGERIA                |   10.13 |   20.56 |   0    | 3.5        |    34.19 |    30.69 |    34.19 |
| NORWAY                 |    1.4  |    0    |   0    | 0          |     1.4  |     1.4  |     1.4  |
| OMAN                   |   75.17 |   55.17 |   0    | 455.47     |   585.81 |   130.34 |   585.81 |
| PANAMA                 |    9.05 |   62.82 |  51    | 151.03     |   222.9  |   122.87 |   273.9  |
| PARAGUAY               |    0.27 |    1.25 |   0    | 0          |     1.52 |     1.52 |     1.52 |
| PERU                   |    3.24 |    3.2  |   0    | 0          |     6.44 |     6.44 |     6.44 |
| PHILIPPINES            |   28.82 |    4.71 |   0    | 26.2       |    59.73 |    33.53 |    59.73 |
| POLAND                 |    3.74 |    2.82 |   0    | 9.53       |    16.09 |     6.56 |    16.09 |
| PORTUGAL               |    1.27 |    0    |   0    | 0          |     1.27 |     1.27 |     1.27 |
| PUERTO RICO            |    1.5  |    5.35 |   0    | 0          |     6.85 |     6.85 |     6.85 |
| QATAR                  |   51.34 |   14.82 |   0    | 50.18      |   116.34 |    66.16 |   116.34 |
| REPUBLIC OF MACEDONIA  |    0.04 |    0    |   0    | 0          |     0.04 |     0.04 |     0.04 |
| REPUBLIC OF MADAGASCAR |    1.04 |    0    |   0    | 0          |     1.04 |     1.04 |     1.04 |
| ROMANIA                |    6.15 |    1.16 |   0    | 0          |     7.31 |     7.31 |     7.31 |
| RUSSIA                 | 1811.69 |    5.86 |   0    | 35.48      |  1853.03 |  1817.55 |  1853.03 |
| RWANDA                 |    2.74 |    1.19 |   0    | 0.75       |     4.68 |     3.93 |     4.68 |
| SAINT LUCIA            |    0.5  |    0    |   0    | 0          |     0.5  |     0.5  |     0.5  |
| SAUDI ARABIA           |   13.6  |   97.25 |   0    | 3114.97    |  3225.82 |   110.85 |  3225.82 |
| SENEGAL                |    0.15 |    0    |   0    | 0          |     0.15 |     0.15 |     0.15 |
| SEYCHELLES             |    0.05 |    0.91 |   0    | 0          |     0.96 |     0.96 |     0.96 |
| SIERRA LEONE           |    0.08 |    0    |   0    | 0          |     0.08 |     0.08 |     0.08 |
| SINGAPORE              | 5353.4  | 4910.6  |  50.88 | 15044.01   | 25308    | 10314.9  | 25358.9  |
| SLOVAKIA               |    0.36 |    0    |   0    | 0          |     0.36 |     0.36 |     0.36 |
| SLOVENIA               |    0.08 |    0    |   0    | 0          |     0.08 |     0.08 |     0.08 |
| SOUTH AFRICA           |  583.73 |   23.43 |   2.01 | 45.41      |   652.57 |   609.17 |   654.58 |
| SOUTH KOREA            |   46.99 |    0.17 |   0    |            |    53.96 |    47.16 |    53.96 |
| SPAIN                  |   64.28 |   60.41 |   0    | 6.8 100.94 |   225.63 |   124.69 |   225.63 |

| SRI LANKA                |   325.26 |   296.61 |   0.05 |   451.41 |   1073.28 |   621.92 |   1073.33 |
|--------------------------|----------|----------|--------|----------|-----------|----------|-----------|
| SUDAN                    |    76.51 |     0    |   0    |     0    |     76.51 |    76.51 |     76.51 |
| SWAZILAND                |     0.05 |     0    |   0    |     0    |      0.05 |     0.05 |      0.05 |
| SWEDEN                   |    61.22 |    26.28 |   0    |   290.21 |    377.71 |    87.5  |    377.71 |
| SWITZERLAND              |   796.59 |  1549.54 |   0    |  6801.52 |   9147.65 |  2346.13 |   9147.65 |
| TADJIKISTAN              |     0    |     0.05 |   0    |     0    |      0.05 |     0.05 |      0.05 |
| TAIWAN                   |     3.6  |     0    |   0    |     0    |      3.6  |     3.6  |      3.6  |
| TANZANIA                 |    21.35 |     1.12 |   0    |   271.97 |    294.44 |    22.47 |    294.44 |
| THAILAND                 |    44.98 |    13.56 |   0    |    39.82 |     98.36 |    58.54 |     98.36 |
| TOGO                     |     0.18 |     4.56 |   0    |     0    |      4.74 |     4.74 |      4.74 |
| TUNISIA                  |     0.07 |     2.5  |   0    |     0    |      2.57 |     2.57 |      2.57 |
| TURKEY                   |    32.2  |    14.51 |   7.44 |    30.42 |     77.13 |    54.15 |     84.57 |
| UGANDA                   |     7.44 |    10.89 |   0    |    10.83 |     29.16 |    18.33 |     29.16 |
| UKRAINE                  |     0.11 |     0.25 |   0    |     0    |      0.36 |     0.36 |      0.36 |
| UNITED ARAB EMIRATES     |  1181.6  |   931.63 | 352.79 |  6011.29 |   8124.52 |  2466.02 |   8477.31 |
| UNITED KINGDOM           |  3764.15 |  1148.62 |   2.09 |  4229.93 |   9142.7  |  4914.86 |   9144.79 |
| UNITED STATES OF AMERICA |  5655.86 |  2904.83 |   4.96 | 10710.3  |  19271    |  8565.65 |  19276    |
| URUGUAY                  |    13.56 |     1.3  |   0    |     0    |     14.86 |    14.86 |     14.86 |
| UZBEKISTAN               |     0.77 |     0    |   0    |     0    |      0.77 |     0.77 |      0.77 |
| VENEZULA                 |     1.09 |     0    |   0    |     0    |      1.09 |     1.09 |      1.09 |
| VIETNAM                  |   203.64 |    24.7  |   0    |    92.64 |    320.98 |   228.34 |    320.98 |
| YEMEN                    |     1.41 |     0    |   0    |     0    |      1.41 |     1.41 |      1.41 |
| ZAMBIA                   |    20.43 |    17.2  |   0    |     0    |     37.63 |    37.63 |     37.63 |
| ZIMBABWE                 |     0.13 |     9.1  |   0    |    29.3  |     38.53 |     9.23 |     38.53 |

******