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India-Africa Conclave to focus on technology, agriculture, HR & energy

13
Mar '08

The largest ever India-Africa conclave, being held in New Delhi from 19-21 March 2008, is expected to highlight Africa's potential as an investment venue and increase economic cooperation between India and the nations of the African continent.

Their Excellencies the Vice Presidents of Tanzania and Ghana and 37 African Ministers are among the 925 delegates who will participate in 'The India Africa Project Partnership 2008', organised by the Confederation of Indian Industry (CII), the EXIM Bank and the Ministry of Commerce and Industry and the Ministry of External Affairs of the Government of India.

The conference will focus on four main areas: technology, agriculture, human resources and energy. One hundred and thirty one projects worth over US$10 billion will be discussed.

The conference will enable Indian investors to interact with key people from more than 35 African countries on one platform. Africa is already an important trade partner for India.

For example, Nigeria is India's second largest source of imported crude petroleum, accounting for 12.2% (US $6.9 billion) of India's global imports (US $57.04 billion) in 2006-07.

South Africa is the fourth-largest source for India's gold imports while Morocco, Senegal and South Africa are leading sources of India's global imports of inorganic chemicals. FDI inflows to India from African countries between August 1991 and March 2007 was US $18,249 million.

Speaking at apress conference in New Delhi to highlight the event, Mr. Syamal Gupta, Chairman of CII Africa Committee and Chairman of Tata International, pointed out that Africa has a land mass that is 11 times the size of India, which is an indication of the size of the opportunities in that continent.

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