Indian Economy News

India plans to strengthen its partnership with Africa in the areas of solar power, defence trade & military exchanges, physical & digital infra, and healthcare & pharma: Mr. Piyush Goyal

Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textile, Mr. Piyush Goyal stated that in order to fulfil the goals of both nations, India intends to strengthen its collaboration with Africa in four areas.

• Solar energy: it will help deliver clean energy, energy security, and jobs to Africa.
• The manufacturing of UAVs and armoured vehicles, as well as defence commerce and military exchanges in the Indian Ocean.
• Physical and digital infrastructure, aiding in IT/consultancy & project exports
• Healthcare & pharma

Speaking at the opening session of the CII-EXIM Bank Conclave on India-Africa Growth Partnership, Mr. Goyal stated that the collaboration between the CII and EXIM bank, along with all African countries, will be crucial to the prosperity of people in both Africa and India in the future.

The four pillars of engagement between India and Africa, according to him, are people, business, trade, and government. Nearly 46 African countries have a sizable Indian community. With investments totaling US$ 71 billion over the past 25 years, India ranks among the top five investors in Africa.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.