The 17th Confederation of Indian Industry (CII) Exim Bank Conclave on India-Africa Growth Partnership was held in New Delhi, Delhi on July 19-20, 2022 in Hybrid format.
- It was organized by CII in partnership with Ministry of Commerce & Industry (MoCI); and Ministry of External Affairs (MEA), Government of India.
- After the Covid-19 pandemic, this was the first such high-level investment meet in Delhi.
- The forum is being held under the theme ‘creating shared futures’.
Participants From India:
It was attended by Union Minister Subrahmanyam Jaishankar, Ministry of External Affairs (MEA), Minister of State (MoS) Vellamvelly Muraleedharan, MEA, among othes
Focus of Conclave:
i.Strategic role of India-Africa partnership in changing geo-political scenario
ii.Strengthening bilateral engagements and discuss emerging economic opportunities with regard to African Continental Free Trade Area (AfCFTA)
iii.Infrastructure development and trade finance, education and training, agriculture and food processing, consultancy services, and healthcare in addition to other areas where Indian companies have steadily increased their presence over the years in Africa.
i.The conclave saw the participation of 40 high-level ministers from 22 countries including Cameroon, Burkina Faso, Eswatini, Republic of the Congo, Ethiopia, Gabon, Equatorial Guinea, Ghana, Niger, Malawi, Mauritius, Sudan, Namibia, Nigeria, Sierra Leone, Zambia, Tanzania, Togo, Guinea, South Sudan, Zimbabwe, and The Gambia.
ii.Bilateral and regional discussions were held, and also opportunities were also presented in services sector viz. Healthcare, IT & ITES, besides the traditional sectors of partnerships, Agriculture & Food processing, Power and Energy and Infrastructure.
iii.Notably, Trade between the African subcontinent and India increased from $7.2 billion in 2001 to $59.9 billion in 2017, making India the continent’s fourth-largest national trading partner.
MoU & Other Agreement Signed:
NTPC signs MoU with Moroccan Agency for Sustainable Energy for cooperation in renewable energy
NTPC (formerly known as National Thermal Power Corporation Limited), and Masen (Moroccan Agency for Sustainable Energy) signed a Memorandum of Understanding (MoU) for cooperation in the renewable energy sector.
It was signed by Rachid Bayed, Executive Director of Operations and Acting Director of Development, MasenASEN, Morocco, and Narinder Mohan Gupta, Chief General Manager and Head of International Business from NTPC Limited, India.
- It was signed in the presence of Mohamed Maliki, Ambassador of His Majesty the King of Morocco to India, and Puneet Kundal, Joint Secretary, MEA, Government of India.
What is in the MoU?
- Joint development of utility-scale projects based on renewable energy in Africa.
- To support services for capacity building, share experience, know-how, and expertise in the areas of mutual interest, especially in the field of Research and Development.
India, Namibia sign three MoUs on sidelines of 17th CII EXIM Bank Conclave
The MoUs signed between India and Namibia are on ‘Wildlife Conversation and Sustainable Biodiversity Utilization, the agreement between Namibia and India on ‘Authorizing Spouses and Dependents of Members of the Diplomatic Mission to Engage in Gainful Employment and the MoU between National Forensic Science University (NFSU) of India and Namibian Police Forensic Science Institute (NPFSI).
i.India has extended concessional loans of over 12.3 billion dollars to Africa.
ii.As per CII, Indian investments in Africa can go up to US$ 150 billion by 2030.
iii.Since April 1996, India has invested $74 billion in Africa.
iv.Union Minister of State for Commerce & Industry (MoS), Smt. Anupriya Patel met Mrs. Amal Salih Saad Mohamed, Minister of Trade and Supply, Sudan, and reviewed the bilateral relations with a focus on trade and investment, defence & maritime cooperation.
- Both sides agreed to further strengthen and diversify trade and economic linkages.
iv.Mauritius Vice President Marie Cyril Eddy Boissezon, Vice-President of Gambia Badara A. Joof also attended the conclave.
About CII-EXIM Bank Conclave on India-Africa Project Partnership
It was launched in the year 2005 with the support of the MEA and the MoCI. Over the last sixteen editions, the Conclave has played a pivotal role in encouraging Indian companies to establish and grow their footprints in Africa.
Recent Related News:
i.Through a video conference on May 19, 2022, External Affairs Minister (EAM) S Jaishankar participated virtually in the BRICS Foreign Ministers’ Meeting 2022, which was hosted by China. Wang Yi, China’s State Councilor and Foreign Minister, presided over the meeting.
ii.On the occasion of the India-Hungary Business Forum 2022 in New Delhi, India’s External Affairs Minister (EAM) Dr. S. Jaishankar and Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó, signed a Memorandum of Understanding (MoU) on the International Solar Alliance (ISA) & Hungary became the newest member of the International Solar Alliance (ISA).
About Export-Import Bank of India (EXIM):
Managing Director– Harsha Bangari
Headquarters– Mumbai, Maharashtra