NEW DELHI: Prime Minister Narendra Modi said on Saturday that “India is proud to host the India-Africa summit.”
“The India-Africa summit reflects India and Africa’s desire to engage more intensively for a better future,” PM Modi said in a tweet.
“The summit reflects India and Africa’s desire to engage more intensively for a better future. India is a major investor in Africa and trade has been growing remarkably in recent years,” the PM said in a series of tweets.
The PM also said that “Bapu(Mahatam Gandhi) and Africa share a close bond.”
Representatives of 54 African nations including heads of state and government of around 40 countries and powerful African Union are expected to participate in the four-day Summit beginning October 26.
India’s current trade with Africa is around USD 75 billion dollar and it has granted a whopping USD 7.4 billion for various developmental and capacity building projects in the last four years. India has implemented a total of 137 projects in 41 African countries during the period.
Expanding trade ties will be a major focus area at the summit which will see participation of over 400 business delegates from Africa besides all major Indian chambers of commerce.
A large number of African countries including Tanzania, Sudan, Mozambique, Kenya and Uganda have huge oil and gas reserves and India wants to invest in the sector to fuel its economic growth. Having a solid partnership in exploiting the blue economy will be another major focus area.
There will be deliberations on expanding ties in areas of energy, health care, infrastructure, technology and innovation.
The United Arab Emirates, Singapore, UN coordinator for Africa and UN Global Head for HIV prevention are the special invitees to the summit.