Thaindian News

New Delhi, March 12 (IANS) India’s economic ties with Africa are set for a major surge at a two-day business conclave starting Monday, in which 400 political and business leaders from 34 African countries will sit across the table to firm up projects worth $9 billion.
External Affairs Minister S.M. Krishna will inaugurate the conference that seeks to map out fresh avenues to scale up bilateral trade between India and Africa to $70 billion in the next five years.

Ghana’s vice-president John Dramani Mahama will be the guest of honour at the conclave that is expected to discuss 145 business projects worth over $9 billion.

Organised jointly by the Export-Import Bank of India, the Confederation of Indian Industry (CII) and the commerce and external affairs ministries, the conclave is also expected to lay the roadmap for the next India-Africa Summit scheduled next year after the highly-successful maiden summit in 2008.

With “Developing Synergies: Creating a Vision” as the central theme, the sixth edition of the conclave will be linked to four sub-themes, guided by the objectives spelt at the 2008 summit. These are: partnership, rural economies, Africa tomorrow and going green.

“The conclave serves a useful purpose in implementing the overall Africa policy of the Indian government,” Gurjit Singh, joint secretary in charge of East and South Africa in India’s external affairs ministry, told reporters here Friday at a function organised by the CII to announce the conclave.

Singh, former Indian ambassador to Ethiopia, pointed out that India’s surging economic engagement with Africa, driven by the private sector, is aimed at spurring the development goals of African countries.

“It leads to a more sustained and sustainable partnership,” said Singh.

Putting the emerging economic synergy between India and Africa in the context, Singh said a conclave like this helps transform the relationship from a formal into an informal interaction.

“In the true spirit of partnership, the discussions will involve two key areas, skills development and adaptable technologies, which are of key importance to several African economies,” said a statement issued by the CII.

The meet will provide a platform for Indian and African leaders to intensify their bilateral and regional partnerships, scale up Indian participation in Africa’s long-term development projects, enhance capacity building initiatives and resource mobilization programmes.

The event will be addressed by top ministers and policymakers, including External Affairs Minister S.M. Krishna, his deputy Shashi Tharoor, Commerce Minister Anand Sharma and Planning Commission Member Arun Maira, besides a galaxy of business leaders.

From the African side, those who have confirmed their participation include Ghana Vice President John Dramani Mahama, Central African Republic Small Industries Minister Kotaye Moise, Zambian Commerce Minister Felix C. Mutati, his counterpart from Congo Claudine Mounari.