Largest ever India-Africa conclave to begin today

March 19th, 2008 - 10:25 am ICT by admin  

New Delhi, Mar 18 (ANI): The largest ever ‘The India-Africa Project Partnership 2008′ conclave will begin here today.

The three-day conclave will highlight Africa’s potential as an investment venue and increase economic cooperation between India and the nations of the African continent.

Vice Presidents of Tanzania and Ghana and 37 African Ministers are among the 925 delegates who will participate in ‘The India Africa Project Partnership 2008′, organised by the Confederation of Indian Industry (CII), the EXIM Bank, the Ministry of Commerce and Industry and the Ministry of External Affairs.

The conference will focus on four main areas - technology, agriculture, human resources and energy. The conference will enable Indian investors to interact with key people from more than 35 African countries on one platform.

Besides, the conclave is expected to discuss 131 projects worth 10 billion dollars.

Africa is already an important trade partner for India. For example, Nigeria is India’s second largest source of imported crude petroleum, accounting for 12.2 percent (6.9 billion dollars) of India’s global imports.

South Africa is the fourth-largest source for India’s gold imports while Morocco, Senegal and South Africa are leading sources of India’s global imports of inorganic chemicals. FDI inflows to India from African countries between August 1991 and March 2007 were 18,249 million dollars. (ANI)

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