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Shri EVKS Elangovan, Minister of State for Commerce and Industry said that India was keen to increase its trade and economic cooperation with Africa. He was addressing the Conclave on Indo-Africa Project Partnership meet organized by the Ministry of Commerce the Confederation of Indian Industry (CII) and the Export Import Bank (EXIM Bank) here today.
Stating that Africa is the continent of the future, the Minister said that the 'Focus Africa' programme that has been launched by the Ministry to give increased thrust to trade in the region. He said that Africa, with its tremendous natural resources possesses immense potentials for growth and the conclave helps to showcase Indian capabilities to provide technology and services at affordable cost to the continent.
Shri Elangovan called upon the Indian companies to be more pro-active in tendering for projects and services in the region. Noting that trade is not just the flow of goods and services, but a mechanism for people to people contact, and Indian traders being well known in the area, they enjoy a comparative advantage. Indian Companies, both in the public and private sectors, have shown keen interest in participating in African Development Bank funded projects, he said.
Noting that technology is the key to development in the 21st century, the minister said that with Indian competence in the areas of software, engineering, telecommunications, and construction, Africa can achieve its development aspirations. The competence of our consultants, corporations, and companies engaged in these sectors can be taken advantage of by our African partners. "Further the banking sector in India is undergoing major changes and our new generation banks are comparable with top international banks. We have now, state of the art technology in banking services and management. India is keen to share its technology and experience with the African Region,” he added.
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