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Referring to the growing diplomatic engagement between India and Africa, the Indian Vice President observed that opening 16 new diplomatic Missions, taking the total number of Indian Missions in the continent to 46, was a pointer to our growth trajectory
Inaugurating the 19th edition CII India-Africa Business Conclave being held in India’s capital, New Delhi, India’s Vice President Jagdeep Dhankhar said on 21st August that with massive digitization, and technological advancements, India offered numerous avenues for cooperation and presents opportunities for mutual benefit and shared success.
The three-day Conclave, being held in India’s capital New Delhi, on 20-22nd August, has drawn overwhelming participation from India and Africa, with over 1,000 delegates from Africa and over 800 delegates from India. Forty senior ministers from 20 African countries have participated in the Conclave, and over 850 business-to-business meetings have been arranged.
Recalling the depth and strength of the India-African ties, the Indian Vice President said to an audience of businessmen from both regions, that his country has invested over USD12.37 billion in 206 infrastructure projects across 43 African countries, impacting African lives and its development process. India also provided capacity-building, training, and educational opportunities, reflecting its commitment to the African Union’s priorities like the African Union’s focus for this year ‘Educate an African Fit for the 21st Century’, he added.
Vice President Dhankhar also emphasized increasing trade volumes between the two regions. “With USD 85 billion in bilateral trade and US$75 billion in investments, India is the fourth largest trading partner of Africa,” he said, adding that the AfCFTA (African Continental Free TradeArea) and India’s DFTP (Duty Tariff Preference) Scheme offered enormous opportunities for deeper economic integration and mutual development.
Referring to the growing diplomatic engagement between India and Africa, the Indian Vice President observed that opening 16 new diplomatic Missions, taking the total number of Indian Missions in the continent to 46, was a pointer to our growth trajectory. He also called for strengthening cooperation between the two countries in digital technology, space programs, and importantly, helping Africa to reduce its dependence on raw material exports and better integrate its production and trade activities into the global economy.
A large meeting ground for Indian and African businesses, the conclave, jointly organized by CII and India’s Ministry of External Affairs, is a forum for discussing the prospects and challenges in doing business with each other. Of late, India has been very actively scouting investment opportunities in Africa in diverse fields like ports, airports, manufacturing, mining, etc.
Prosper Bazombanza, Vice President, Republic of Burundi said India-Africa partnerships in areas like pharmaceuticals, science and technology, ICT, and renewable energy sector have helped African countries to improve their participation in the global value chains. He welcomed Indian investments in Burundi.
Muhammad B.S. Jallow, Vice-President, Republic of The Gambia highlighted the potential for joint ventures between India and The Gambia in sectors like agriculture, healthcare, technology, and renewable energy.
Jeremiah Kpan Koung, Vice President, the Republic of Liberia, said the trade agreement signed between India and Liberia helped bilateral trade grow to USD 325 million. Hailing India’s progress in the agriculture sector, he sought assistance in helping Liberia with skills and technological advancements to enhance local production.
Marie Cyril Eddy Boissezon, Vice President, Republic of Mauritius, underscored the “time-tested relationship” between India and Mauritius and added that the trade agreements signed between the two countries have helped augment bilateral trade and investments. Mauritius is the first country in Africa to have adopted UPI for financial transactions.
Gen (Retd.) Dr. C.G.D.N. Chiwenga, Vice-President, Republic of Zimbabwe said the implementation of the Africa Continental Free Trade Area (AfCFTA) and the growing African regional economy are creating business opportunities for Indian companies. He said that Zimbabwe seeks investments from Indian industry in areas like manufacturing, agriculture and agro-processing, tourism development, infotech, among others.
Sanjiv Puri, President of the Confederation of Indian Industry (CII) proposed deeper India-Africa collaboration in agro-processing, healthcare, infrastructure, and education while leveraging the AfCFTA to enhance the partnership.
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