India’s commitment to fostering a robust development partnership with Africa took center stage at the 18th CII-EXIM Bank India Conclave on India-Africa Growth Partnership held in New Delhi on June 14, 2023. Driven by the pressing priorities of the African continent, this alliance is set to address critical areas such as digital transformation, environmental sustainability, healthcare advancements, food security, and water management.
During the inaugural session, Dr. S Jaishankar, Minister of External Affairs, highlighted the tangible impact of recent Indian initiatives in Africa. These include the digital delivery of public goods, deployment of green technologies, effective response to the COVID-19 pandemic, and comprehensive healthcare efforts. With a focus on inclusive development, India’s partnership will further strengthen Africa’s progress in these key sectors.
Acknowledging the substantial growth in India-Africa bilateral trade flows, Jaishankar emphasized that the implementation of the Africa Continental Free Trade Area (AfCFTA) will open doors for increased investments by Indian companies in Africa. India already stands as one of the top five investors in Africa, and the minister expressed confidence in further expansion in the times to come.
The external affairs minister reiterated India’s commitment to sharing experiences and expertise in facilitating Africa’s energy transition. He urged African countries to join the Lifestyle for Environment (LiFE) movement initiated by Indian Prime Minister Narendra Modi. Additionally, he encouraged the promotion of millet cultivation and consumption in alignment with the UN Year of Millets, a proposition put forth by PM Modi.
Various dignitaries, including Gen (Retd) Dr. C.G.D.N Chiwenga, Vice President of Zimbabwe, and Vital Kamerhe Lwa Kanyiginyi, Deputy Prime Minister of the Democratic Republic of Congo, lauded the deep bilateral relations between India and Africa, highlighting the potential for investments and development across sectors such as tourism, agriculture, manufacturing, and renewable energy.
With recommendations from R Dinesh, President of CII, ranging from expanding Indian bank presence to strengthening healthcare cooperation and digital partnerships, the India-Africa partnership is poised to achieve new milestones.
Noel Tata, Chair of CII Africa Committee, emphasized the importance of Africa’s economic integration and the need to boost domestic manufacturing. S Kuppuswamy, Co-chair of CII Africa Committee, emphasized the significance of integration for the mutual development of both regions.
Today’s event marks a pivotal moment in the journey of India-Africa cooperation, as it forges ahead with digital innovation, sustainable practices, and collaborative synergies, unlocking immense potential for shared growth and prosperity.
The Conclave, organized jointly by the Confederation of Indian Industry (CII) and EXIM Bank of India, aimed to deepen cross-border partnerships between India and Africa. Two reports, titled ‘Forging Sustainable India-Africa Partnership through Green Transition’ and ‘India’s Investment Potential in Africa,’ were released by the EXIM Bank of India, further emphasizing the commitment towards a sustainable and prosperous collaboration.