India is pursuing deeper engagement with several developed countries
Minister for Commerce & Industry Piyush Goyal has underlined the need for a trade and investment agreement between India and Africa, citing the potential of markets and opportunities.
Addressing the Special Ministerial Session at the 17th CII Exim Bank Conclave on India-Africa Growth Partnership on 19 July 2022, Goyal said that going forward, the economic outlook, in the long run, is going to be promising for both India and Africa, because of the opportunities and potential markets.
“This conclave will certainly have a huge impact on our engagements, both bilaterally and also strengthen investment interest,” he told the delegates.
“Every single engagement today demonstrates the immense possibilities between India and Africa. We will be able to offer new technologies that we are working in India that will help expand trade, commerce, business, investment and opportunities for Africa’s youth,” the Minister said.
Goyal continued, “We believe that the destiny of nearly 3 billion people is in our hands as India and Africa offer future opportunities that are unparalleled.
“India has a decisive leadership today. India’s development partnership with Africa will be on terms that will be comfortable to Africa that will liberate its potential and not constrain its future.
“We want Africa to grow and prosper,” he underlined.
India’s experience with digital revolution to support Africa’s growth, extend education, health, spread digital literacy and quality infrastructure could be harnessed.
“India’s start-ups and our digital innovations like UPI, ONDC etc. can benefit Africa immensely,” he pointed out.
The Minister said that India is pursuing deeper engagement with several developed countries and that India recently concluded a Comprehensive Economic Partnership (CEPA) with the UAE, and Economic Cooperation and Trade Agreement with Australia.
“We are at an advanced stage of discussion with the UK and are looking for an enhanced partnership with Canada, the EU, Israel and other nations,” reaffirmed Goyal. fiinews.com
