9th CII-EXIM Bank Conclave on India-Africa Project Partnership biggest ever, drawing the participation of 7 heads of state & heads of government, and senior ministers and parliamentarians from 45 African states
The India-Africa partnership is rapidly evolving as the world becomes increasingly inter-connected and inter-dependent. However, this partnership remains “distinct and different” as both partners continue to focus upon each other’s fundamental strengths when entering into new partnerships.
Stating this in his address at the Special Opening Session of the 9th CII-EXIM Bank Conclave on India-Africa Project Partnership being held in New Delhi, Mr Anand Sharma, Minister of Commerce, Industry & Textiles, Government of India, said that India recognises Africa’s growing credit need for long-term projects. Government of India’s recently launched pilot scheme of 2 percent interest subvention for project exports would greatly benefit the African nations, he said.
Focusing attention on bilateral cooperation in the areas of capacity building and skill development, Mr Sharma said that every year some 50,000 students from Africa receive education in India, of whom some 15,000 receive scholarship support from the Indian government. The Government of India is committed to support a greater number of students from Africa in the coming three years.
Underscoring India’s commitment to support Africa’s industries to move up the value chain, Mr Sharma said that “more has to be done”.
He also touched upon the vital healthcare sector where Indian pharma firms have played a key role by bringing life-saving drugs to the people of Africa at affordable costs.
Mr Philemon Yang, Prime Minister, Republic of Cameroon, said in his address that Indian companies could effectively leverage the public-private partnership opportunities that are being offered by the Cameroon government. Speaking about the bilateral partnership with India, Mr Yang underlined his government’s commitment to the cause with the recent opening of Cameroon’s commercial diplomatic mission in New Delhi.
Highlighting the major investment opportunities in Cameroon, Mr Yang referred to natural gas, mining, physical infrastructure, and tourism sectors as the promising sectors for bilateral business engagements.
Dr Guy Scott, Vice President, Republic of Zambia said in his address that African economies should look to emulate India’s industrial growth experience. He urged Indian companies to invest in Africa and in particular Zambia, by adding that Africa offers the highest returns.
Dr Scott said that the true potentials of tourism in the context of India-Africa partnership has not been fully exploited. “Tourism is a sleeping giant,” he said.
Mr Adi Godrej, President, CII, said that South-South Cooperation is not just a theoretical construct anymore. It is a big reality. A reality that is visibly altering the global trade and investment flows, to the advantage of developing and emerging economies such as our own.
He added that sustainable growth of South-South trade will also require investments in new capabilities, trade facilitation measures, infrastructure and trade finance.
Mr Syamal Gupta, Chairman, CII Africa Committee, said this year’s Conclave is the biggest ever, with over 900 delegates from 45 African nations participating in the event. The Conclave has the presence of Heads of State and Heads of Government from seven African states, and senior ministers and parliamentarians from across Africa. Mr Chandrajit Banerjee, Director General, CII, welcomed the delegates to the Conclave in his opening address.