Minister of Commerce and Industry Piyush Goyal stated that India is prepared to assist African countries with their physical and digital infrastructure.
According to Commerce and Industry Minister Piyush Goyal, there are four crucial areas where India can be a valued partner for African countries: solar energy, infrastructure, military cooperation, and startup ecosystem. According to Goyal, who spoke at the opening of the 17th CII-Exim Bank conclave in this city, trade between India and African nations has been relatively balanced, with exports of goods and services totaling about $40 billion (roughly Rs. 3,19,700 crore) and imports of $49 billion (approximately Rs. 3,91,600 crore). “And we would like to keep up this collaboration and engagement where African countries and India help each other out to assist each other’s economic development.
“India grants duty-free tariff preferences to 27 more minor developed African nations… It’s time to consider further extending and bolstering the trade relationship and even exploring the possibility of granting India and Africa more commercial access so that we can accelerate and grow this commerce.
Speaking at the conference on “India-Africa Growth Partnership – Creating Shared Futures,” he added.
And India would like to increase its friendship, and relationship-based business offers so that we may fulfill the aspirations of 1.4 billion Africans.
He claimed both nations enjoy abundant sunlight, and solar energy might be one avenue of cooperation between Africa and India.
According to the minister, it would deliver clean energy to Africa, address the continent’s demands for energy security, create jobs, and boost regional economic growth.
In the Indian Ocean, he said, “I also think our military exchanges, defense commerce, and defense sector production may contribute to deeper involvement between Africa and India.”
Additionally, he stated that India is prepared to assist African countries with their physical and digital infrastructure, including information technology, establishing new infrastructure projects in the area, healthcare, and producing vaccinations.
“We also think that the startup ecosystem is one place where we can tap into much of Africa’s human potential.
“The third-largest startup ecosystem in the world was successfully established in India, where there are already more than 110 unicorns. I think we can collaborate to build startup ecosystems across different African countries, “said he.
According to Goyal, the Department for Promotion of Industry and Internal Trade will be happy to speak with friends from Africa to determine how the knowledge acquired over the past several years may benefit the continent.
“The knowledge accumulated over the past several years since PM Modi announced the Startup India program in 2015–16 can assist…and inspire young boys and girls in Africa to pursue their dreams of becoming entrepreneurs.
He claimed that Prime Minister Narendra Modi has clarified that India’s relationship with African countries should be prioritized.
According to Goyal, “Africa finds a place of pride in terms of our foreign policy and economic policy, and I would like to reassure all the distinguished excellencies from different African countries that our relationship is based on trust, friendship, and a deep understanding of each other’s imperatives, requirements, and own domestic situations,”
