Anand Sharma to inaugurate India show in Ethiopia

May 18th, 2011 - 7:03 pm ICT by IANS  

New Delhi, May 18 (IANS) Commerce and Industry Minister Anand Sharma will inaugurate the India show organised by the Confederation of Indian Industry (CII) on the occasion of the second India-Africa forum summit in Addis Ababa, Ethiopia, the industry lobby said Wednesday.

The minister will deliver the inaugural address concomitant business conference with the theme of “India-Africa: Enhancing Partnerships, Shared Vision” and would also release a business guide at the forum, which is scheduled from May 20-22.

Sharma will be accompanied by 15-member high level CII chief executive officers delegation including Adi Godrej, president-designate, CII, Sunil Bharti Mittal, past president, CII and group executive officer, Bharti Enterprises and Chandrajit Banerjee director general CII.

The show which is being organised to augment trade and investment and promote Indian technology and services in Africa will have more than 80 Indian companies displaying their products ranging across sectors such as manufacturing, infrastructure, finance, IT, and automotives.

The African economy has gained rapid momentum, growing at well over 5 percent in the years before the global economic crisis. India’s trade and investment relations with the continent are on the upswing.

The trade between India and Africa which stood at $3 billion in 2000-01 has recently breached the $45 billion mark and is targeted to scale to $70 billion level by 2015.

Investment by India in the continent has also increased with almost 250 Indian firms active in the continent with estimated investments of $5 billion.

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