Context:
Recently, the 19th Confederation of Indian Industry (CII) India Africa Business Conclave was hosted in New Delhi.
Key highlights of the conclave
- The India Africa Business Conclave’s theme was “Creating One Future,”.
- The Union Minister of Commerce and Industry mentioned that 33 African countries do not participate in India’s Duty-Free Tariff Preference (DFTP) Scheme for Least Developed Countries (LDCs) and urged them to take its advantage.
- India set an ambitious goal of doubling trade between India and Africa in the next seven years.
- The potential of a technology-driven partnership between India and Africa was also highlighted, particularly in the IT sector.
- The growing demand for oilseeds, pulses, and other crops in India and proposed collaboration in plantation sectors in Africa for export to India was also mentioned.
- The minister highlighted the critical role of the Medium, Small, and Micro Enterprises (MSME) sector in both India and Africa.
- He also praised the efforts of the CII India Africa Business Conclave for enhancing cooperation between India and Africa, urging participants to set ambitious targets and work diligently to achieve them.
- He also mentioned India’s assistance to Africa through 196 Lines of Credit, amounting to over US$12 billion, benefiting over 42 countries.
- He concluded by emphasizing the potential of a resurgent Africa and a rising India to give strong impetus to South-South cooperation.
Confederation of Indian Industry (CII)
- In 1991, industrial licensing was abolished and economic reforms on a wide scale started taking shape. With effect from 1st January 1992, in keeping with the government’s decision to opt for the liberalisation of the Indian economy, the name of Confederation of Engineering Industry (CEI, 1986) was changed to Confederation of Indian Industry (CII).
CII’s Mission:
- One-stop platform for services to industry & society
- Customer-focused organization
- World-class services
- Global thinking and local action
CII India Africa Business Conclave
Confederation of Indian Industry (CII) in partnership with the Ministry of External Affairs and Ministry of Commerce and Industry, the Government of India initiated the Africa Conclave on India-Africa Partnership in 2005.
- The first edition of the conclave was hosted by DR Congo in 2005.
The Conclave focuses on some of the key areas of partnership and emerging opportunities: –
- In Agriculture Food Processing
- Defence
- Digital Partnership
- Financial Partnership
- Healthcare Pharmaceuticals
- Infrastructure
- Power and Energy
- Quality Ecosystem
- Skill Capacity Development.