Build actionable agenda, set clear targets for an outcome-based India-Africa partnership: Piyush Goyal

 The India-Africa partnership should be guided by an actionable agenda and achievable goals set to short, medium and long term plans that result in tangible outcomes, said Shri Piyush Goyal, Minister of Commerce and Industry, Government of India at the 19th CII India Africa Business Conclave, being organised by Confederation of Indian Industry (CII) in New Delhi between August 20-22, in association with the Ministry of External Affairs, and the Ministry of Commerce & Industry, Government of India.

He said, towards this, specific areas of cooperation with each African country need to be identified, along with benchmarking of success stories and course corrections where required.

Shri Goyal proposed six key steps for a deeper and outcome-based India-Africa partnership.

He called for doubling of India-Africa bilateral trade with the goal of scaling the USD200 billion mark by the year 2030. He urged the least developed countries (LDCs) of Africa to strive for better utilisation of the Duty Free Tariff Preference (DFTP) scheme offered by India. He opined that greater participation of African LDCs in the India-Africa bilateral trade will result in more equitable trade and facilitate a wider participation of the African economies.

Referring to India’s achievements in the area of digital public infrastructure, Shri Goyal called for employing India’s expertise and experience to augment Africa’s digital transformation with beneficial outcomes in areas like fintech, healthcare among others.

He also underscored the opportunity for deeper India-Africa bilateral partnerships in areas like critical minerals, entertainment, and added that technology-led cooperation in agriculture will also strengthen the food security of both regions.

Highlighting the significance of the MSME sector for both India and Africa, Shri Goyal underlined the need for deeper collaborations in this sector, and also alluded to the scope of Indian companies seeding startup ecosystems in different African countries.

Mr Rui Miguens de Oliveira, Minister of Industry & Commerce, Republic of Angola invited Indian companies to explore investment opportunities in Angola in agriculture and agro-processing, manufacturing, financial services, healthcare etc.

Mr Serge Gnaniodem Poda, Minister of Industrial Development, Commerce, Handicrafts and Small and Medium Enterprises, People's Republic of Burkina Faso, said the country seeks major investments from India in sectors such as agriculture, agri-business, IT & ICT services, pharmaceuticals, renewable energy and healthcare.

Mr Guibolo Fanga Mathieu, Minister of Trade and Industry, Republic of Chad, said the country offers significant business opportunities in sectors like agriculture, animal husbandry and crops like cotton. IT and ICT.   

Mr Sosten Gwengwe, M.P., Minister of Trade and Industry, Republic of Malawi, said that India’s participation in the country’s industrialisation will help narrow down their trade deficits. He highlighted Malawi's ATM (Agriculture, Tourism and Mining) strategy that opens us new investment opportunities for Indian companies.

Mr Seydou Asman, Minister of Trade & Industry, Republic of Niger highlighted the development programmes that are underway in the country and urged Indian companies to step up their engagements in Niger which has abundant with mineral rich land pockets, a long coastline, efficient transport systems, and strong prospects for renewable energy development.

Mr Omar Said Shaaban, Minister for Trade and Industrial Development, Revolutionary Government of Zanzibar, United Republic of Tanzania said his country sees India as an all-season partner. He called upon Indian business to explore opportunities in agri-business, tourism, blue economy, etc., where Tanzania has comparative advantage.

Mr Sanjiv Puri, President, CII and Chairman & Managing Director, ITC Ltd saw a greater role for Indian industry in establishing regional production networks in Africa. He also called for wider engagements between Indian and Africa MSMEs.

Mr Noel Tata, Chairman, CII Africa Committee and Chairman, Tata International Ltd stated that CII is deeply committed to expanding cooperation with Africa and is currently looking at facilitating trade through banking linkages, digital finance infrastructure development, cooperation in mining and critical minerals, automobile and automotive components, among others.

Mr Chandrajit Banerjee, Director General, CII in his opening remarks said that the CII Centres of Excellence are set to play a greater role in Africa. He also mentioned that CII is establishing its office in Eastern Africa, while also expanding its office in Northern Africa.

21 August 2024

New Delhi