Shri Pranab Mukherjee, President of India, will inaugurate the 12th edition of the annual CII-EXIM Bank Conclave on India-Africa Project Partnership in New Delhi on March 9. The Conclave will further deepen and strengthen India’s economic engagement with Africa.
The two-day Conclave is being organized by the Confederation of Indian Industry (CII) in partnership with the EXIM Bank of India with the support of the Ministry of External Affairs and the Ministry of Commerce & Industry, Government of India. Building partnerships at the government, institutional and enterprise levels between India and Africa, the Conclave focuses on opportunities for Indian companies in Africa, including joint ventures, innovative financing of major development projects, skill development, and capacity building, among others.
The Conclave also directs focused attention on the agenda for cooperation laid down at the India Africa Forum Summit. The annual Conclave has had the participation of several African Heads of States and Government since 2005.
This edition of the Conclave is expected to witness a participation of over 450 international delegates from over 37 African countries, including His Majesty, The King Mswati – III, Kingdom of Swaziland, Dr Ruhakana Rugunda, Rt. Hon. Prime Minister and Leader of Government Business, Republic of Uganda, and 32 ministerial delegations. Over 450 Indian participants are also likely to participate in the Conclave.
Smt Nirmala Sitharaman, Minister of State (IC) for Commerce and Industry, Gen. V K Singh (Retd.), Minister of State for External Affairs, and Shri M J Akbar, Minister of State for External Affairs, would also be addressing the Conclave.
The objective of the 12th CII EXIM Bank Conclave on India-Africa Project Partnership, is to discuss cooperation in Trade, Regional Integration & Infrastructure Development, Finance & Consultancy, Mining & Minerals, Agriculture & Agro-Processing, Power & Alternative Energy, Healthcare, Small & Medium Enterprises, Human Capital Development and People-to-People Contacts, among others.
Since 2005, the Conclave has engaged more than 5,700 delegates from 45 African countries, and over 5,000 delegates from India.
Over the years, 2,915 projects worth $327.12 billion have been discussed. In the 11th edition alone, 585 delegates from African countries took part in the deliberations and business meetings and 381 projects worth about $70.49 billion were discussed leading to many landmark India-Africa business and project partnerships.
The India-Africa partnership is a stellar example of multi-pronged South-South Cooperation, straddling the traditional and emerging areas of cooperation alike. Since the turn of the Millennium, this bilateral partnership has grown manifold, encompassing cooperation endeavors in diverse areas like manufacturing competitiveness, innovation & R&D, physical infrastructure development, food and energy security, environmental safeguards, and human capital formation.
India-Africa bilateral trade volumes grew from $28.9 billion in 2007-08 to $56.7 billion in 2015-16. Indian and African governments have systematically dismantled various tariff and non-tariff barriers. Importantly, the private sectors in both regions have actively engaged in trade promotion and facilitation initiatives.
Simultaneously, Indian private investments in Africa have surged with 'big ticket' investments in the telecommunications, IT, energy, and automobiles sectors. Capital investments from India to Africa have grown to US$ 44.3 billion between January 2003 and December 2016.
8 March 2017