India-Africa Business Conclave Wraps Up with Major New Alliances The conclave highlighted the critical role of the India-Africa partnership within the Global South framework.
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NEW DELHI: The India-Africa Business Conclave, marked a significant milestone in strengthening economic ties between India and Africa. This high-profile event, organized with collaboration from the Ministry of External Affairs and the Ministry of Commerce & Industry, showcased the deepening synergy between the two regions and established key strategies for mutual advancement.
Strengthening the India-Africa Partnership
The conclave highlighted the critical role of the India-Africa partnership within the Global South framework. Prosper Bazombanza, Vice President of Burundi, emphasized the impact of Indian investments on Burundi’s resource development. “Indian investment is vital for optimizing our resources and laying the groundwork for sustained growth and mutual benefit,” Bazombanza stated.
Muhammad B.S. Jallow, Vice President of The Gambia, underscored the necessity of ongoing dialogue on energy and infrastructure. “This conclave has significantly advanced discussions on leveraging Indian expertise to meet our energy and infrastructure needs, thus reinforcing our partnership,” Jallow noted.
Exploring New Opportunities in Agriculture and Technology
Liberia’s Vice President, Jeremiah Kpan Koung, called for enhanced investment in Liberia’s agriculture sector, citing the country’s advantageous climate and land resources. “We are enthusiastic about Indian investment in our agriculture, which holds substantial growth potential,” Koung said.
Marie Cyril Eddy Boissézon, Vice President of Mauritius, stressed the importance of collaboration in digitalization and healthcare. “India and Africa, sharing common values, can unlock new growth opportunities by focusing on digital and healthcare advancements,” Boissézon added.
Strategic Focus on Manufacturing and Infrastructure
Dammu Ravi, Secretary of Economic Relations at the Ministry of External Affairs, urged Indian firms to expand their presence in Africa’s manufacturing sectors and address supply chain issues. “Establishing a strong presence in Africa’s manufacturing zones and resolving logistical challenges is crucial for boosting trade and industrial growth,” Ravi emphasized.
Commerce Secretary Sunil Barthwal highlighted four key investment areas: automobiles, agriculture and agro-processing, pharmaceuticals, and transport and logistics. “Indian agro-tech companies have the potential to transform Africa’s food production through technology transfer and incubation centers,” Barthwal explained.
Insights from Plenary Sessions
During the plenary sessions, senior officials and industry leaders discussed deeper economic integration. Dr. C.G.D.N. Chiwenga, Vice President of Zimbabwe, identified agriculture, mining, health, energy, and infrastructure as critical collaboration areas. “Zimbabwe welcomes Indian investment in these sectors, which are essential for mutual growth and development,” Chiwenga said.
Mahamat Ali Alhadi, Chad’s Minister of Trade, Industry, and Tourism, highlighted the importance of Indian investment in Chad’s infrastructure and energy sectors. “Chad is at a pivotal moment, and Indian investment will play a crucial role in advancing our infrastructure and energy projects,” Alhadi remarked.
Nigeria’s Minister of Industry, Trade, and Investment, Adeniyi Adebayo, outlined the significant opportunities for Indian businesses in Nigeria. “Strengthening our ties in manufacturing and technology with India will drive substantial economic growth and innovation,” Adebayo stated.
Commitment to Shared Values and Future Growth
S. Kuppuswamy, Co-Chairman of the Africa Committee, reflected on India’s approach to Africa based on the principle of ‘Vasudhaiva Kutumbakam,’ envisioning a united global family. “Our engagement with Africa represents a vision of collective progress and global harmony,” Kuppuswamy noted.
Director General Chandrajit Banerjee praised the conclave’s success in advancing critical sectors such as fintech, sustainable mining practices, and space economy. “This year’s conclave has set a strong foundation for future innovations and strategic advancements,” Banerjee commented.
The conclave concluded with the signing of a Memorandum of Understanding (MoU) between the Commonwealth Enterprise and Investment Council (CWEIC) and the organizers, aimed at enhancing trade and investment ties within the Commonwealth, particularly in Africa. This agreement marks a significant step towards deeper economic integration and collaborative growth.
The India-Africa Business Conclave underscored the strategic significance of the India-Africa relationship and outlined actionable steps for accelerating economic integration. The event’s insights and agreements, including new commitments from key African nations, are poised to drive future collaborations and address critical developmental challenges, reinforcing a strong and mutually beneficial partnership between India and Africa.CII’s India-Africa Business Conclave Wraps Up with Major New Alliances and Strategic Initiatives
-Dr. Shahid Siddiqui; X @shahidsiddiqui
