India-Africa conclave to discuss projects worth USD30 billion | SupportBiz


India-Africa conclave to discuss projects worth USD30 billion

Eighth India-Africa partnership conclave to be held in New Delhi between March 18-20. Projects in agriculture, pharmaceuticals and communications sectors will be the focus areas.

With India's growing focus on Africa, over 250 projects worth around USD30 billion in sectors such as agriculture, communications and pharmaceuticals will be on the table at the eighth India-Africa partnership conclave here from March 18-20.

The conclave will provide the Indian side an opportunity to explore new avenues for scaling up two-way trade from the current USD50 billion to USD70 billion in the next two years.

About 1,100 delegates will attend the event aimed at deepening business and economic ties between India and Africa. They include political leaders, government representatives, business heads, bankers and development specialists from 36 African countries and at least three non-African countries.

More than 30 ministers from different sub-Saharan countries will attend the conclave. A group of 28 young member of parliament from 12 countries will also participate.

According to the organisers, the Confederation of Indian Industry (CII) and the Export-Import Bank of India, the theme of the conclave is "creating possibilities: delivering value" and would cover a wide area ranging from leveraging the Indian model for Africa's growth to funding the growth and partnerships to harness the human potential.

"There will be sessions covering business opportunities in sectors such as pharmaceuticals, information and communication technologies and agriculture," said a CII statement.

The Central African Republic will be the guest country and Zimbabwe is the focus country at the conclave.

The African delegation coming to India comprises senior ministers like Zimbabwe's Vice President Joice Mujuru and Central African Republic's Prime Minister Faustin Archangel Touadera.

The Indian side would be led by senior ministers, policy makers and industry leaders. Commerce Minister Anand Sharma will address the conclave March 18.

Since 2005, the annual conclave has been serving as a platform for Indian and African government agencies and corporates to forge long-term project partnerships.