India believes in forging a development partnership with Africa that is based on the needs and priorities of the partner countries, External Affairs Minister S Jaishankar said on Wednesday.
For India, the rise of Africa is key to global rebalancing, he said in an address at a conclave on 'India-Africa Growth Partnership'.
"India's development partnership with Africa will have a strong focus on digital, green, healthcare, food security and water, in tune with the pressing priorities of Africa," he stated.
The conclave was jointly organised by the Confederation of Indian Industry (CII) and the EXIM Bank of India.
While referring to the significant growth in India-Africa bilateral trade flows, Jaishankar hoped that the implementation of the Africa Continental Free Trade Area (AfCFTA) will pave the way for increased investments by Indian companies in Africa.
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He said India is already among the top five large investors in Africa and he was confident that it will grow further.
India's ties with the African continent have been on an upswing amid China's persistent efforts to expand its influence in the African countries.
In his address, Jaishankar said India's bilateral trade with Africa has reached USD 98 billion in 2022-23 compared to USD 89.6 billion in the previous year.
"I am confident that our bilateral trade will soon cross the USD 100 billion mark...With the cumulative investment at USD 73.9 billion from 1996 to 2021, India is among the top five large investors in Africa and I am sure this will grow in times to come," he said.
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Referring to New Delhi's supply of Made-in-India COVID-19 vaccines to various African countries, Jaishankar said: "We are now encouraging Indian pharma manufacturers and vaccine manufacturer to explore joint manufacturing facilities in the African countries."
He said Africa occupies an important place in India's foreign policy and that the cooperation has been stepped up in the last nine years under the direction of Prime Minister Narendra Modi.
"India and Africa have a long-standing trade and economic linkages as indeed they do in the people-to-people contacts. India staunchly supported African countries in their quest to attain independence and to fight against colonialism and apartheid," he said.
"This is important to recall because our ties are not transactional but represent the solidarity of a shared struggle. Africa, therefore, occupies an important place in India's foreign policy," Jaishankar added.
Gen (Retd) CGDN Chiwenga, Vice President of Zimbabwe, noted that it was a boon to have deep bilateral relations amidst the current geopolitical tensions and the pandemic.
He also noted that the implementation of the AfCFTA would trigger investments, and develop the tourism sector, agriculture, manufacturing, etc.
Vital Kamerhe Lwa Kanyiginyi, Deputy Prime Minister of Congo stated that his country has been preserving its forest cover, rich with mineral resources and has the potential to generate hydropower which can be utilised for accelerated development.
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He welcomed Indian businesses to participate in construction of rail lines and highways connecting the remotest areas of the African continent.
Noel Tata, Chair of CII Africa Committee, stressed upon Africa's economic integration, and the need for boosting domestic manufacturing in Africa.
-With PTI Input
