India-Africa conclave to focus on trade and investment

The 9th edition of the India-Africa conclave, organised by CII & Exim Bank, is being held in Delhi between 17 & 19 March and is focussed on creating a partnership for south-south co-operation that can act as a catalyst for enhanced partnership in the areas of trade and investment between India and the African nations. Some of the high profile participants this year include Philemon Yang, Prime Minister, Cameroon; Guy Scott, vice president, Zambia; Daniel Kablan Duncan, Prime Minister, Cote d’Ivoire and Y Museveni, President of Uganda.

“The event has very high-profile participation from the African side with heads of state from many countries and participants from all the major countries. There will be over 400 projects worth around $60 billion under discussion at the event. While infrastructure financing is the key issue for the African nations; India will be showcasing its soft power,” said Kaushlendra Sinha, director, Africa, CII.

India is Africa’s fourth-largest trading partner and a significant investor across the continent. Bilateral trade touched $57bn in 2011, and is targeted to reach $90bn by 2015. Over the years, bilateral co-operation between the two regions has diversified across several sectors such as agriculture, education, health, skill building and infrastructure. Different sessions at this year’s conclave will be focussed on the different initiatives of the Indian government in enhancing the partnership with Africa and how effectively India can partner in the development process of the continent; the gaps in project financing in Africa and how India, along with other multilateral partners, can best bridge the need-gap and the way forward for more Indian companies to invest in Africa.