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India commits $10bn to Africa
India has committed over $10 billion to Africa for infrastructural projects since the first and the second India-Africa Summit in 2008 and 2011, respectively. It is also establishing 70 Pan-African/regional institutions across Africa.
The Minister of Commerce and Industry of India, Mr Anand Sharma, announced this at the opening of the three-day 10th Confederation of Indian Industry (CII-EXIM BANK) Conclave on India-Africa Project Partnership in New Delhi, India.
He said India and Africa were taking their rightful places in the emerging world order and the 21st century would be the century for India, Asia and Africa.
According to him, the India-Africa partnership was distinct and different, exemplifying the spirit of South-South cooperation.
Mr Sharma mentioned agriculture and food security, health care and life sciences, infrastructure, energy and energy security, mining and small and medium enterprises (SMEs) development as the priority areas for India-Africa partnerships.
He said India’s technological innovation made the country a global leader and major research and development hub for Fortune 500 companies, making key contributions to Africa’s healthcare sector.
He assured participants that India would stay committed to making available new generation life science products to Africa.
The Executive Director of the International Trade Centre, Ms Arancha Gonzales, said in the emerging global order, countries needed to focus on private sector development and comparative advantage as transformative tools.
