The three-day long 19th CII India-Africa Business Conclave, held on August 19-21 in New Delhi, has set a new standard in the evolving economic ties between India and Africa. At the heart of the discussions was Africa’s rise as one of the world’s most dynamic economic regions, marked by an impressive$ 6.7 trillion in consumer and business spending. As Africa’s third-largest trading partner, India has witnessed its trade with the continent grow from USD 68.5 billion in 2011-12 to USD 83.34 billion in 2023-24, reflecting the deepening and expanding nature of warm relationship.
The 19th CII India-Africa Business Conclave, convened by Confederation of Indian Industry underscored the vital role of the India-Africa growth partnership within the broader context of the Global South alliance. The conclave, a collaboration between the CII, India’s Ministry of External Affairs, and Ministry of Commerce & Industry, highlighted strategic areas for accelerating economic integration between the two regions.
Prosper Bazombanza, Vice President of Burundi, emphasized the potential for Indian investors to significantly contribute to Burundi’s economic development. By leveraging Burundi’s rich natural resources, Indian businesses could play a crucial role in enhancing the country’s growth trajectory through creating a more cooperative environment.
In a similar vein, Muhammad B.S. Jallow, Vice President of Gambia, noted the strategic discussions facilitated by the conclave. Key sectors such as energy, infrastructure development, affordable housing, and healthcare were identified as focal points for collaboration with Indian enterprises.
India’s Minister of Commerce and Industry Piyush Goyal emphasized that the India-Africa partnership should be driven by a clear, actionable agenda with specific, achievable goals across short, medium, and long-term plans, aiming to produce tangible outcomes and measurable results.
While addressing in the business conclave, Jeremiah Kpan Koung, Vice President of Liberia, invited Indian firms to explore investment opportunities within Liberia’s agricultural sector. Liberia’s substantial land resources and favorable climatic conditions present significant opportunities for growth. Additionally, the country is open to various forms of investment, including private-private and public-private partnerships.
Marie Cyril Eddy Boisse´zon, Vice President of Mauritius, highlighted the deep-seated civilizational ties between India and Africa. He advocated for sustained and focused efforts to extract tangible benefits from the cooperation in sectors such as digitalization, healthcare, space development, pharmaceuticals, infrastructure, and power. This underscores the need for a strategic approach to leveraging shared values and mutual interests.
Dr. C.G.D.N. Chiwenga, Vice President of Zimbabwe, pinpointed agriculture, mining, health, energy, and infrastructure as critical areas for collaborative growth. Zimbabwe’s openness to partnership with India aims to drive progress across these sectors, emphasizing the mutual benefits of such cooperation.
The 19th CII India Africa Business Conclave has thus reinforced the imperative for deepened economic integration between India and Africa. By focusing on sector-specific collaborations and harnessing shared resources and values, both regions stand to gain from enhanced mutual growth and development.
Rui Miguens de Oliveira, Minister of Industry & Commerce of Angola invited Indian companies to explore investment opportunities in Angola in agriculture and agro-processing, manufacturing, financial services, healthcare etc. Serge Gnaniodem Poda, Minister of Industrial Development, Commerce, Handicrafts and Small and Medium Enterprises, Burkina Faso, remarked the country seeks major investments from India in sectors such as agriculture, agri-business, IT & ICT services, pharmaceuticals, renewable energy and healthcare.
Chad’s Minister of Trade and Industry, Guibolo Fanga Mathieu, said the country offers significant business opportunities in sectors like agriculture, animal husbandry and crops like cotton. IT and ICT.
Sosten Gwengwe, Minister of Trade and Industry of Malawi, highlighted Malawi’s ATM (Agriculture, Tourism and Mining) strategy that opens us new investment opportunities for Indian companies.
Seydou Asman, Minister of Trade & Industry of Niger, urged Indian companies to increase their involvement in Niger, highlighting the country’s mineral wealth, extensive coastline, efficient transport infrastructure, and potential for renewable energy. Meanwhile, Omar Said Shaaban, Minister for Trade and Industrial Development in Zanzibar, Tanzania, described India as a key, reliable partner and encouraged Indian businesses to explore opportunities in Tanzania’s agri-business, tourism, and blue economy sectors, where the country holds a competitive edge.
