PR No – 57
15th March, 2024
New Delhi
PHDCCI hosts India- Africa Day on fourth day of PHDCCI International week
The 4th day of the ongoing PHDCCI International Week i e; 14 March 2024 focused on India- Africa Day: The Future of India-Africa Relations: Opportunities Abound aimed to facilitate various discussions led by distinguished dignitaries from diverse nations, focusing on deliberating engaging countries in the region both bilaterally and multilaterally, with the aim of expanding market opportunities for businesses and enhancing the export of goods and services.
Mr. Kunal Singhal, Chair, International Affairs Committee for Africa, PHDCCI in his Theme Address said that The African region holds strategic importance for India due to its profound geopolitical and geo-economic significance. The growing dynamics of the region have shown a new path to our bilateral relations as our areas of cooperation have grown beyond from Oil & Gas refining and petrochemicals to agriculture, infrastructure and mining, ICT, Tourism, healthcare and pharmaceuticals, etc. He further informed that while, the governments of the region have taken a series of proactive efforts to move the cooperation
beyond the traditional sectors, I think sustained dialogues would be required between all the stakeholders to further push the efforts.
H.E. Ms. Jacqueline Mukangira, High Commissioner of the Republic of Rwanda to India underscored the monumental achievement of the African Union’s inclusion as a permanent member of the G20, serving as a testament to India’s resolute leadership. India’s indispensable role in fostering unity, cooperation, and amplifying the voices of African nations in the Global South was duly recognized. She commended India’s proactive efforts in spearheading a more inclusive and interconnected global community, where diverse nations collaborate towards common objectives for the advancement of their citizens and the greater good. Amidst the tumult of the COVID-19 pandemic, India’s provision of vaccines to African countries has been a beacon of hope, saving countless lives. Additionally, she highlighted the remarkable growth in Rwanda’s exports to India, surging from 11 million US dollars in 2021 to an impressive 70 million US dollars in 2022, accompanied by a substantial increase in imports from India, estimated at 300 million US dollars during the same period.
H.E. Ms. Lalatiana Accouche, High Commissioner of the Republic of Seychelles to India emphasized the importance of prioritizing collaboration amidst ongoing challenges. She stressed that enhancing trade relations, sharing technological innovations, and fostering cultural exchanges are not mere aspirations but essential pillars for strengthening the partnership between India and Africa in the years ahead. They are jointly endeavoring to create a narrative of opportunity that serves as a beacon of cooperation on the global stage. Moreover, it is essential to recognize the significant contributions of the Indian diaspora across various sectors, including energy and the environment. This presents opportunities for investment in renewable and alternative energy sources, as well as in sectors such as services, food and beverage, infrastructure, technology, tourism, and fisheries. The future of India-Africa relations holds immense potential for partnership and mutual benefits, spanning economic collaboration, capacity building, energy cooperation, digital transformation, and strategic security measures.
Mr. Cedrick C. Crowley, Charge d’Affairs, High Commission of the Republic of South Africa, India stressed several challenges impeding Africa’s development and industrialization, notably the lack of access to infrastructure and energy. He expressed confidence that Indian intervention has demonstrated the potential to overcome these hurdles, but emphasized the continued need for investment in critical areas such as infrastructure, ports, roads, rail, education, and healthcare. Mr. Cedrick urged Indian companies to leverage their capabilities to support Africa in addressing these challenges. Recognizing the vast potential of the continent, with projections indicating a 5 trillion-dollar economy by 2030 and a population surpassing 2 billion people, there is significant impetus for investment and collaboration.
H.E. Mr. Haymandoyal Dillum, High Commissioner of Mauritius to India, praised the notable participation of African nations in the G20 meetings, highlighting South Africa, Mauritius, and Nigeria, among others. This level of engagement marks a significant and potentially historic moment. He emphasized how India’s presidency facilitated the amplification of African voices globally, aligning with powerful economies and fostering South-South cooperation, particularly beneficial for developing and least developed countries (LDCs), such as Mauritius. Mr. Haymandoyal elaborated on India’s long standing support for Africa’s self-rule and growth, evident through various developmental initiatives, expertise exchange, capacity building, and technology transfer. The foundation of the India-Africa partnership is rooted in principles of friendship and mutual respect, laying the groundwork for robust political and economic collaboration. He also highlighted India’s digital healthcare initiative, which has enhanced efficiency and accessibility in addressing domestic healthcare needs, emphasizing its potential extension to the African continent through mutually beneficial collaboration.
Mr. Richard Buhanya Lwamafa, Third Secretary, Uganda High Commission, reiterated the significant potential for collaboration between India and Uganda in trade to propel sustainable development forward. He emphasized the necessity for reform within the global financial system to adequately cater to the financial requirements of developing countries. Mr. Richard underlined the opportunity for collaborative endeavours considering the substantial population and GDP of both nations. Together, they could address pressing issues such as poverty, hunger, the digital divide, and climate change, in a concerted effort towards progress.
Mr. Thabang Linus Kholumo, Counsellor, High Commission of the Kingdom of Lesotho delved into the present trade dynamics between Lesotho and India, highlighting a noticeable increase in the exchange of goods and services. He acknowledged that although the volume of trade might not match that of other partners, there exists significant potential for both expansion and diversification. He clarified that Lesotho predominantly exports textiles and diamonds, including sizable diamond stones, while India’s exports to Lesotho encompass pharmaceuticals, machinery, and vehicles. This complementary trade relationship presents promising opportunities for further collaboration and the broadening of trade horizons.Turning to investment prospects, he underscored Lesotho’s thriving textile and apparel industry, alongside its abundant renewable energy resources like hydropower and solar energy. Mr. Thabang suggested that Indian companies specializing in renewable energy technology could collaborate with local counterparts to develop renewable energy projects, thereby bolstering Lesotho’s energy security and advancing its sustainability objectives.
Mr. Ernest Nana Adjei, Minister-Counsellor/Political & Economic Officer, Ghana High Commission, India reinforced the importance of prioritizing economic engagement over political ties to foster mutual benefits. He emphasized Ghana’s crucial role as the gateway to Africa, hosting the Continental Headquarters of the African Continental Free Trade Area (AfCFTA). Mr. Ernest highlighted how the AfCFTA not only grants Indian companies access to a burgeoning economy but also offers them the chance to contribute strategically to the continent’s development. He emphasized that the current moment presents an ideal opportunity for expanding businesses in Africa, portraying Ghana as a hospitable and promising destination for investment. Additionally, he underscored Ghana’s flourishing fintech industry, which not only attracts investments but also experiences rapid growth. He outlined the country’s dedication to nurturing talent, expanding infrastructure, and fostering innovation, factors that have enticed major global tech giants like Google and Twitter to invest in Ghana.
Mr. Dipopego Julius Tsheko, Director- International Business – India/Asia, Botswana High Commission acknowledged the enduring bond between Botswana and India, notwithstanding Botswana’s diplomatic presence established in 2006. He emphasized the significant presence of the Indian business community in Botswana, underscoring the depth of their historical relationship. Addressing the demographic landscape, Mr. Dipopego noted that between 10,000 to 20,000 Indian nationals reside in Botswana, with a substantial number having obtained Botswana citizenship. Furthermore, he highlighted prominent Indian enterprises operating in Botswana, such as the State Bank of India, Mahindra, and the recent addition of Jindal’s 600-megawatt coal-fired power station in the Mmamabula coal field. He urged further exploration of business opportunities in Botswana, stressing India’s pivotal role as one of Botswana’s major trading partners. Notably, Botswana exports approximately 42% of its diamonds to India, making a significant contribution to Botswana’s economy. Lastly, he discussed Botswana’s ongoing endeavors to diversify its economy away from reliance on diamonds, a non-renewable resource. He highlighted Botswana’s aspirations in sectors like agriculture, manufacturing, and tourism, signaling Botswana’s eagerness to embrace new avenues of economic development.
Mr. Gebru Teklay, Third Secretary, Embassy of the Federal Democratic Republic of Ethiopia uncovered the rich trade history between Ethiopia and India, spanning over 2,000 years of recorded interactions. He emphasized the swift establishment of modern diplomatic relations immediately following India’s independence, showcasing Ethiopia’s proactive approach in nurturing bilateral ties. Notably, Ethiopia’s status as the first African country to open an embassy in New Delhi serves as a tangible testament to the depth of the Ethiopia-India relationship. Furthermore, Mr. Gebru shed light on the robust economic partnership between Ethiopia and India, revealing that more than 650 Indian companies are currently operating in Ethiopia with a staggering registered capital of $5 billion. He commended Indian investors for their significant contribution, ranking as the second-largest investors in Ethiopia and generating employment opportunities for 75,000 Ethiopians.
The Indian Industry presentation was given by Mr. Nikhil Gandhi, Executive Director & Chief Business Officer, ARISE IIP on the Industrial Platform provided in Africa, Mr. Apurva Anand Shrivastava, CTO, Stone Roads International on Roads and Highway Technologies and Dr. Dinesh Pendharkar and Dr. Ranjan Modi from Sarvodaya Hospital on advanced Healthcare System in India.
The session was moderated by Mr. Niraj, Director – International Affairs, PHDCCI and the session was attended by over 120 Industry members.
*END*
Warm Regards,
Media Division
PHD Chamber of Commerce and Industry