New Delhi | Africa's natural resources, demographic advantage and growing economic integration through the African Continental Free Trade Area make it an attractive destination for investments, Vice President Jagdeep Dhankhar said on Wednesday.
He also said that India's new-age digital technologies and its space programme offer huge opportunities for Africa to increase cooperation with India.
"Africa's natural resources...Demographic advantage and growing economic integration through the African Continental Free Trade Area Agreement make it an attractive destination for investments and partnerships," Dhankhar said.
He was addressing CII's India-Africa Business Conclave here.
Sectors where both sides can increase cooperation include infrastructure transformation, space, agriculture, mining and food processing.
He added that India's Duty-Free Tariff Preference (DFTP) scheme offers enormous opportunities for mutual development.
The vice president said that resurgent Africa and rising India can give a strong impetus to south-south cooperation specially in areas like clean technology, climate-resilient agriculture, maritime security, and connectivity.
"India's space programme 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 USD 85 billion bilateral trade.
He also said that India has invested over USD 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.
"Diplomatic footprint enhancing in Africa with the opening of 16 new diplomatic Missions, taking the total number of Indian Missions in the continent to 46 is a pointer of our growth trajectory," the vice president said.
The country is also thankful to Africa for helping to recreate its bio-diversity by providing us with Cheetahs.
"India is an economy on the upsurge, an economy on the rise. The rise has been exponential and historic in the last decade, recognised globally has much to offer to the world and in particular Africa," he said.
