Dragon's story scrippted in Gold as Elephant sleeps!

The Dark Continent sits glittering on over 99% of world's gold reserves. Tanzania with the third largest reserves after South Africa and Ghana, rightly enjoys her position as the enviable cynosure of Chinese policy-makers. With economic aid worth Dollar two billion flowing quietly since 1960s from the land of the Mandarin, one wonders if India with her ever mesmerized eyes focused on the glamorous west has missed the opportunity. Just an Ocean way Tanzania, as the Indian Ocean divides the two countries, Tanzania can perhaps be a good way to gain access to the African markets. India with her burgeoning population and accelerated growth rate notwithstanding the economic meltdown needs to re-define its strategy of accessing the International markets. The Chinese policy makers with their foresighted vision could comprehend way back in 1960's the importance to lighten up the corridors to this dark land. Tens and thousands of Chinese Engineers and millions of dollars flew in as investment from China to Tanzania, as Chinese help built the 1860 km long Tanzania-Zambia railway, colloquially called the Freedom Railway in 1970's. An accessible trap into Africa's most rugged terrain helped Chinese tap the emerging African markets for raw materials and an unmet consumer appetite for goods and services available at affordable rates. The Chinese also sent over thousands of medical experts to Tanzania to provide medical services in the under-developed economy. And the camaraderie only seems to have strengthened over time. The Chinese Engineering Company with joint funding from the Chinese & Tanzanian Government built the new national Tanzanian stadium, wherein the two countries jointly hosted the Beijing Olympic relay Torch in April 2008.

Opportunities galore in this Emerging underdeveloped market. Mining, Agriculture, Pharmaceuticals, Infrastructure Development and Telecommunications are some of the most promising emerging industries in the region. China with over 40 years of investment of time, foreign aid and infrastructure into the region already seems to have captured the first mover advantage in terms of capturing the mindshare and heart share of the Tanzanians. But the train is not missed as yet. There are competencies to be leveraged from. Indian IT & Telecommunications players for instance having proven their mettle in one of the largest mobile phone & IT markets in the world, can transport the efficiencies to the African market. Airtel, India's largest mobile phone operator's vision to make a move into the African markets with the MTN deal was a step in the right direction. Zantel one of the first mobile phone companies in Tanzania to offer mobile banking provides an example of how mobiles could be an increased source of revenue for the Telecommunications company by looking at mobiles as not just a means of communication but also as an instrument to facilitate trade. Zantel's success emerges from its vision to forsee the fast emerging market of telecommunications growing at the rate of 20% and combine it with a low banking access of only 9% in Tanzania. Thus, m-banking model became a successful way of tapping the informal economy. Such innovative ways to reach those at the Bottom of the Pyramid in the blessed and cursed in size, widely dispersed population of Tanzania are interesting case studies.

With Tanzania emerging as the most favoured destination for Chinese economic aid, there is definitely more to this development then meets the eye. Africa and Tanzania neatly sit on those elusive resources, metals and a fast emerging market to be tapped that could well define the country to emerge as the winner with a sustainable access to these important resources, the key to development of trade and industry. It has always been and it will always be that for nations to be Competitive, the one with the best manpower resources, R&D, scientific and technological advances and sustainable access to resources will have the most sustainable competitive advantage. India on her part must draw lessons from her dragon neighbour and ride on the train to this rough terrain before she catches on the sneeze of lazing elephants.