Underlining that the economic outlook for Africa and India will be very promising, India’s Commerce and Industry Minister Piyush Goyal called for taking India-Africa trade and investment to new heights by leveraging economic resurgence in both regions.
“We need to take India-Africa trade and investment to new levels, focus on digital revolution, extend this participation to higher levels of education and ensure basic healthcare and digital literacy for people of Africa,” said Mr Goyal at the 17th CII-EXIM Bank Conclave on India-Africa Growth Partnership on July 19.
“We want to work with you as equals – we will be there to support your efforts for industrialization as friends and partners,” he said.
The minister assured Africa that India will work with the continent as partners and friends in mutual quest for resurgence. “We invite you to work with India as partners and friends. India’s development partnership will be on terms “that will be comfortable with you, liberate your potential, rather than constrain it,” said Mr Goyal. He was alluding to Prime Minister Narendra Modi’s ten principles of engagement with Africa outlined in his address to the Ugandan parliament in 2018.
Mr Goyal pointed out at signs of resilience, recovery and renewal in India and Africa, which is leading to economic rejuvenation of the two regions. India and Africa are where the markets are, and this is where future opportunities are,” he said.
India is future engine of global growth
“The world today sees India as the future engine of global growth. Thirty years from now, India will be 10x from where it is now,” said Goyal. Calling for deepening of India’s economic partnership with Africa, the minister highlighted India’s strengths as strong foundation for democratic institutions, transparent economic systems, rule of law, building world class infrastructure, seamless flow of goods and services, high quality products, space technology, fintech, edtech and health tech.
Mr Goyal underscored cultural affinity between people of India and Africa and stressed that this cultural affinity can act as the basis for enhancing economic partnership between India and Africa.
“Africa and India are natural partners. We are two sets of people rooted in culture and history. When we work together, we can move mountains,” said Mr Goyal. “The destiny of three billion people are in our hands. We offer the developed world opportunities which are unprecedented,” said the minister.
“I would like to invite brothers and sisters from Africa to be a part of this growth story. African countries can also grow with better infrastructure and technology, engage at a better level and from a position of strength,” he said.
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