Energy puts Africa on front burner for India
Although West Asia has been India’s primary source of energy, the growing Indian demand for energy resources cannot be secured without diversification and Africa, with approximately 9% of the world’s proven oil and gas deposits.
At the 9th three-day CII-EXIM Bank Conclave on India-Africa Project Partnership in New Delhi, the largest ever India-Africa business meet with a total of 900 overseas delegates, including 39 MPs, are collectively seeking ways to step up the cooperation in the development of green energy, such as, solar, wind, geo-thermal, biomass, etc.
India and Africa have witnessed a five-fold increase in their trade volume in the past seven years at $65 billion and both sides are poised to scale it up further, said Minister of State for External Affairs Preneet Kaur here Monday.
At the conclave, Cameroon is the guest country and Ethiopia the focus country and are expected to discuss 475 projects close to $70 billion.
While both sides are cooperating in technology transfer, economic cooperation and capacity building, the aim of the conclave is aimed at developing strategies that would further enhance mutually beneficial trade & investment, and understand the opportunities and challenges being faced by India and Africa in exploration and utilization of hydrocarbon resources.
According to CII officials, energy security is a national imperative for India, and a strong partnership with Africa must be viewed as essential to securing India’s
Be the first to comment.