Largest ever India-Africa Conclave in New Delhi
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With bilateral trade between India and Africa targeted to touch $90 bn by 2015, industry leaders and officials from 41 African countries would congregate next week in a bid to take the bilateral engagement between India and Africa to a new level.
India and Africa together accounts for a huge market of 2.2 billion people with a combined GDP of more than $3 trillion. India is Africa's fourth-largest trading partner and a significant investor across the continent. Over the years the bilateral cooperation has diversified across several sectors such as agriculture, education, health, skill building and infrastructure.
At the 9th three-day CII-EXIM Bank Conclave on India-Africa Project Partnership from March 17, the largest ever India-Africa business meet will have a total of 630 overseas delegates, including 39 Mps. Starting March 17 they will discuss 500 projects close to $70 billion. Cameroon will be the guest country and Ethiopia the focus country at the three-day event.
In recent years, India's development partnership with Africa has expanded considerably both in geographical spread and sectoral coverage. The Ministry of External Affairs (MEA) has set up Development Partnership Aministration (DPA) to bring under one umbrella the entire range of external developmental assistance and to manage more efficiently the formulation, appraisal, implementation and evaluation of projects.
"The Ministry is also exploring innovative models of partnership with Indian business and industry, so that we can combine development assistance with their commercial perspectives to create assets that would have a larger developmental impact in our partner countries," senior MEA official explained.
Food security is a common concern of both India and Africa. Most parts of Africa are endowed with fertile lands and water resources. The challenge lies in harnessing these natural resources to usher in a Green Revolution across the continent.
"India is partnering many African countries in boosting their agricultural produce through watershed development, sharing of advanced farm technologies and capacity building measures," a senior officials told FE.
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