India & Africa to strengthen bilateral relations, focus on SME development
Updated: Mar 12, 2014 11:08:03am
New Delhi, Mar 12 (KNN) In the broader framework of India-Africa cooperation, the two countries should give increasing focus to SME development and cooperation, said Executive Director, International Trade Centre, Arancha Gonzales.
Speaking at the 10th CII-EXIM BANK Conclave on India Africa Project Partnership held here from March 9-11, she urged India and Africa to direct sharper focus on SME development and cooperation in the broader framework of India-Africa cooperation. She said that Africa’s SME sector could leverage the experiences of India’s SME development in the services sector. Citing this, she said the success of ‘Incredible India!’ promotion could inspire an ‘Amazing Africa’ initiative, a CII press release said.
She also said in her address that in the emerging global order, countries need to focus on private sector development and comparative advantage as transformative tools.
Also speaking at the event, Minister of Commerce and Industry, Anand Sharma said that India and Africa are taking their rightful places in the emerging world order and that the 21st century will be the century of India, Asia and Africa.
India has committed over USD 10 billion to Africa for infrastructural and development projects since the holding of the first and second India Africa Forum Summit meetings in 2008 and 2011, and is partnering in establishing 70 pan-African and regional institutions across Africa, Sharma said.
He cited agriculture and food security, healthcare and life sciences, infrastructure, energy and energy security, mining, and SME development as the priority areas for India-Africa partnerships. He made a special mention of the Buyers Credit that was introduced by his ministry for supporting Indian companies’ participation in African infrastructure projects.
Speaking about India’s technological progress, Sharma said that India is now a global leader in ‘frugal innovation’ and a major R&D hub for Fortune 500 companies.
Referring to India’s key contributions to Africa’s healthcare sector, he said that India will stay committed to making available new generation life science products to Africa. India is also a world leader in the production of finished generics.
Meanwhile, Prime Minster of The Kingdom of Lesotho, Motsoahae Thomas Thabane, said that India’s development model is most appropriate to African economies. He cited education and training, science and technology, infrastructure development, and agriculture and food security as areas that offer immense scope for India-Africa partnerships.
Also present at the event was Chairman and Managing Director, Export-Import Bank of India Yaduvendra Mathur, who said, that India’s role in Africa’s capacity building will increasingly focus on areas like agriculture, private sector development, infrastructure development and manufacturing growth.
He said that about USD 5 billion worth of projects have been planned under the Buyers Credit that was introduced by the Ministry of Commerce and Industry, Government of India.
He also said that EXIM Bank of India is in dialogue with the African Development Bank for the sharing of project development expertise.
Chairman, CII Africa Committee and Managing Director, Tata International Ltd, Noel Tata said, the committee is focused on promoting bilateral partnerships in areas such as agriculture, pharma and healthcare, mining, power and energy, transportation, SME development and skill development. (KNN/ES)
Speaking at the 10th CII-EXIM BANK Conclave on India Africa Project Partnership held here from March 9-11, she urged India and Africa to direct sharper focus on SME development and cooperation in the broader framework of India-Africa cooperation. She said that Africa’s SME sector could leverage the experiences of India’s SME development in the services sector. Citing this, she said the success of ‘Incredible India!’ promotion could inspire an ‘Amazing Africa’ initiative, a CII press release said.
She also said in her address that in the emerging global order, countries need to focus on private sector development and comparative advantage as transformative tools.
Also speaking at the event, Minister of Commerce and Industry, Anand Sharma said that India and Africa are taking their rightful places in the emerging world order and that the 21st century will be the century of India, Asia and Africa.
India has committed over USD 10 billion to Africa for infrastructural and development projects since the holding of the first and second India Africa Forum Summit meetings in 2008 and 2011, and is partnering in establishing 70 pan-African and regional institutions across Africa, Sharma said.
He cited agriculture and food security, healthcare and life sciences, infrastructure, energy and energy security, mining, and SME development as the priority areas for India-Africa partnerships. He made a special mention of the Buyers Credit that was introduced by his ministry for supporting Indian companies’ participation in African infrastructure projects.
Speaking about India’s technological progress, Sharma said that India is now a global leader in ‘frugal innovation’ and a major R&D hub for Fortune 500 companies.
Referring to India’s key contributions to Africa’s healthcare sector, he said that India will stay committed to making available new generation life science products to Africa. India is also a world leader in the production of finished generics.
Meanwhile, Prime Minster of The Kingdom of Lesotho, Motsoahae Thomas Thabane, said that India’s development model is most appropriate to African economies. He cited education and training, science and technology, infrastructure development, and agriculture and food security as areas that offer immense scope for India-Africa partnerships.
Also present at the event was Chairman and Managing Director, Export-Import Bank of India Yaduvendra Mathur, who said, that India’s role in Africa’s capacity building will increasingly focus on areas like agriculture, private sector development, infrastructure development and manufacturing growth.
He said that about USD 5 billion worth of projects have been planned under the Buyers Credit that was introduced by the Ministry of Commerce and Industry, Government of India.
He also said that EXIM Bank of India is in dialogue with the African Development Bank for the sharing of project development expertise.
Chairman, CII Africa Committee and Managing Director, Tata International Ltd, Noel Tata said, the committee is focused on promoting bilateral partnerships in areas such as agriculture, pharma and healthcare, mining, power and energy, transportation, SME development and skill development. (KNN/ES)
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