Natural resources, demographic advantage make Africa investment destination: Jagdeep Dhankar
New Delhi: Vice President Jagdeep Dhankhar on Wednesday said that Africa's natural resources, demographic advantage and growing economic integration through the African Continental Free Trade Area make it an attractive destination for investments. “India's new-age digital technologies and its space programme offer huge opportunities for Africa to increase cooperation with India,” he said while addressing CII's India-Africa Business Conclave here.
Sectors where both sides can increase cooperation include infrastructure transformation, space, agriculture, mining and food processing. “India's duty-free tariff preference (DFTP) scheme offers enormous opportunities for mutual development,” the vice president said, adding that resurgent Africa and rising India can give a strong impetus to south-south cooperation especially in areas like clean technology, climate-resilient agriculture, maritime security, and connectivity.
“India's space programme also offers Africa tech-based solutions to advance towards achieving sustainable development. This is an area that offers enormous avenues," he said, adding that India is Africa's fourth largest trading partner with $85 billion bilateral trade. “India has invested over $12.37 billion in 206 infrastructure projects across 43 African countries. India also provides capacity building, training, and educational opportunities, reflecting its commitment to the African Union's priorities,” he added.
