India-Africa partnership poised for a big leap forward: MoS Muraleedharan

New Delhi [India], June 16 : At the Valedictory Session of the 18th CII-EXIM Bank Conclave on India Africa Growth Partnership on Friday, Union Minister of State for External Affairs (MoS) V Muraleedharan said that India-Africa partnership is poised to take a big leap forward in the coming days.

The MoS further added that this partnership between the two nations calls for greater business engagement, undertaking deeper research, stepping up trade flows and exploring greater export opportunities, according to an official release.

The Valedictory Session of the 18th CII-EXIM Bank Conclave was organized by the Confederation of Indian Industry (CII) and EXIM Bank today.

In addition, the Minister noted that there are significant prospects for collaboration between India and Africa in a variety of fields, including agriculture, irrigation, trade, investments, health care, education, science & technology, infrastructure, and digital technologies, among many others.

Taking to Twitter, the MoS wrote, "Happy to address the Valedictory session of 18th CII-EXIM Bank Conclave on India-Africa Growth Partnership in New Delhi. Thank VP of Zimbabwe H.E. Dr. Chiwenga, VP of The Gambia H.E. B.S.Jallow, DPM of DRC Mr. Kanyiginyi, Ministers and businesses for joining."

He added that India's educational institutions and other initiatives in this field in Africa will play a key role in fulfilling the aspirations of the African youth, particularly in rural areas.

The Vice President of Zimbabwe, C.G.D.N. Chiwenga stated that India's involvement in Africa's digital revolution will promote more inclusivity, lead to the creation of jobs, close the digital divide, and aid in the eradication of poverty in the area. Regarding creative project finance, Chiwenga noted that build-operate-transfer (BOT) public-private partnerships would benefit both Africa and India, the official release read.

Vice President of Gambia, Muhammad B.S. Jallow, stated that it is critical for India and Africa to collaborate and continue to explore new opportunities for growth.

India can play a vital role by sharing its technologies, knowledge, and expertise, while African countries must create a business-friendly environment for Indian companies to invest in sectors like renewable energy, agriculture and food processing, education, healthcare, and mining, among others, he added, as per the release.

During the 18th CII-EXIM Bank Conclave on India Africa Growth Partnership on Friday, Harsha Bangari, Managing Director, EXIM Bank, emphasised that mutual trust is the cornerstone of India-Africa ties and that lines of credit supplied by India supported important infrastructure projects in Africa. She went on to emphasise the importance of the Indian Development and Economic Assistance (IDEA) Scheme in assisting with the establishment of a strong social infrastructure for the people of Africa in order to satisfy their development priorities.

According to the official release, S. Kuppuswamy, Co-Chairman, CII Africa Committee and Advisor-Group Finance and Special Projects, Shapoorji Pallonji Group, said that the conclave witnessed overwhelming participation from 45 African countries and 25 non-African countries, which underlined India's importance as a key partner for Africa.

Notably, the CII- EXIM Bank Conclave on India-Africa Project Partnership was launched in the year 2005 with the support of the Ministry of External Affairs and the Ministry of Commerce & Industry.

The Conclave has been instrumental in encouraging Indian businesses to start up and expand in Africa during the course of its seventeen editions.

In the 18th edition, the focus lay on trade, investments, and exchange of knowledge and expertise creating shared value for business and industry at large between India and Africa.

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