Accelerate economic integration between India and Africa: 19th CII India Africa Business Conclave

The India-Africa growth partnership serves as a strong building block of the Global South partnership. This was reiterated at the valedictory session of the 19th CII India Africa Business Conclave, organised by the Confederation of Indian Industry (CII) in association with the Ministry of External Affairs, and the Ministry of Commerce & Industry, Government of India, held in New Delhi on August 22.

H.E. Mr Prosper Bazombanza, Vice President, Republic of Burundi, stated that Indian investors can contribute to Burundi's growth by adding value to its abundant natural resources, fostering an environment of mutual cooperation.

H.E. Mr. Muhammad B.S. Jallow, Vice-President, Republic of The Gambia, highlighted that the Conclave facilitated discussions with Indian companies in key areas such as energy, infrastructure development, affordable housing, and healthcare, which in turn will further strengthen the India-Africa partnership.

H.E. Mr. Jeremiah Kpan Koung, Vice President, Republic of Liberia invited Indian companies to explore investment opportunities in the agricultural industry of Liberia, as the country is endowed with ample land and abundant rainfall. He added that Liberia is open to both private-private and public-private partnerships.

H.E. Mr. Marie Cyril Eddy Boisse´zon, Vice President, Republic of Mauritius described India and Africa as natural allies with shared civilisational values. He called for sustained and focused efforts to derive concrete benefits from India-Africa cooperation in areas such as digitalization, healthcare, space development, pharmaceuticals, infrastructure, power, and capacity building.

H.E. Dr. C.G.D.N. Chiwenga, Vice-President, Republic of Zimbabwe identified agriculture, mining, health, energy, and infrastructure as critical areas of cooperation. Zimbabwe is open to doing business with India to foster collaborative efforts for driving mutual growth across key sectors, he added further.

Mr Dammu Ravi, Secretary, Economic Relations, Ministry of External Affairs, Government of India urged Indian companies and investors to establish deep footprints in Africa’s manufacturing zones. He emphasized the importance of examining and addressing supply chain bottlenecks. He also stated that Indian companies should consider expanding Special Economic Zones in Africa.

Mr Sunil Barthwal, Commerce Secretary, Ministry of Commerce & Industry, Government of India, stated that the India-Africa partnership must focus on the four key areas of automobiles, agriculture and agro-processing, pharmaceuticals and transport and logistics. He stated that Indian agriculture and agro-tech companies could play an instrumental role in expanding Africa’s food production capacity through various measures such as sharing of seed technology and setting up of incubation centres.

Mr S Kuppuswamy, Co-Chairman, CII Africa Committee and Group Adviser, Shapoorji Pallonji Group mentioned that India approaches Africa with the philosophy of ‘Vasudhaiva Kutumbakam’, whereby the entire world Is looked upon as one family.

Mr Chandrajit Banerjee, DG, CII stated that this year’s Conclave witnessed some very strong outcomes for furthering the India-Africa partnership in critical areas encompassing financial solutions, critical emerging technologies, sustainable mining practices, food and agriculture, fintech, and space economy, among others.

During the session, an MoU was exchanged between the Commonwealth Enterprise and Investment Council (CWEIC) and the Confederation of Indian Industry (CII) that focused on strengthening trade and investment ties and fostering closer cooperation in Commonwealth countries, particularly in Africa.

New Delhi

22 August 2024