Source: The Herald – Breaking news.
Mukudzei Chingwere in NEW DELHI, India
INDIA should take advantage of its excellent relations and shared history with Africa and tap into the many mutually beneficial economic opportunities the continent has to offer, Vice President Dr Constantino Chiwenga has said.
He was speaking at the opening ceremony of the Africa Conclave on India-Africa Partnership organised by the Confederation of Indian Industry.
Establishing and bolstering economic synergies in light of good relations was one of VP Chiwenga’s central messages to the Conclave, which brings together African stakeholders and fund managers controlling billions of dollars in investment money.
VP Chiwenga said he was delighted to note that the India-Africa Business Conclave will tackle issues of cooperation and modalities for financing growth, infrastructure development, agricultural and industrial innovation, harnessing of critical minerals, security, advancement of ICT, medical and economic integration.
“These are critical areas which call for our collective attention to strengthen India-Africa cooperation to achieve a shared sustainable economic development for the betterment of our people,” he said.
Africa and India, though distinct in many ways, share common goals and values that serve as a solid foundation for collaboration, as they have vibrant young populations, expanding economies, and an inherent resilience that has guided them through historical and contemporary challenges.
Zimbabwe is endowed with abundant mineral endowments that include iron, lithium, gold, platinum, chrome, coal and has a highly skilled and educated populace with considerable manufacturing experience.
VP Chiwenga assured delegates that “Zimbabwe is open for business” and presents opportunities in mining, manufacturing, agriculture, tourism, ICT and infrastructure development, among others.
“We are interested more in investments that add value to our agricultural products and minerals, investments that expand economic growth and employment opportunities, as well as facilitate technology transfers.
“Zimbabwe is not only an investor-friendly country, but a competitive investment destination in Africa and also a country with many natural wonders for your enjoyment.
“I therefore invite you to Zimbabwe, a World of Wonders and to sample the whole of Africa for investment opportunities,” he said.
Enhancing relations under the One Future banner between countries and regions, added VP Chiwenga, will result in unprecedented socio-economic growth for the benefit of citizens. The conference, therefore, was a perfect opportunity for Africa and India to forge strong business partnerships, guided by the African Union Framework of continent-to-country strategic partnership, a dynamism presented by India and individual African States. With 1,4 billion people and a combined GDP of US$2,4 trillion, Africa’s emerging markets present a wealth of opportunities for Indian businesses.
VP Chiwenga said by investing in and partnering with African enterprises, Indian companies can expand their global footprint.
Indian Vice President Jagdeep Dhankhar called on the world, including the African continent, to focus on combating climate change, which has been described as a threat to humanity.
“The deep-rooted ties between India and Africa, forged by shared histories, common struggles and mutual aspirations for a just and progressive future equitable world order, makes this partnership a natural and stronger than ever,” said VP Dhankhar.
“India has invested over US$12,37 billion in 206 infrastructure projects across 43 African countries, impacting lives.”
India also provides capacity-building, training, and educational opportunities, reflecting its commitment to the African Union’s priorities like African Union’s focus for this year ‘Educate an African Fit for the 21st Century’.
India is Africa’s 4th largest trading partner, with US$85 billion in bilateral trade and US$75 billion in investments.
Liberia’s Vice President Jeremiah Kpan Koung praised India’s meaningful contribution to global politics.
The investment and co-operation conference, which ends today, comes at a time when India, an Asian economic giant and the world’s fifth largest economy, is keen to ramp up its investment foothold on the African continent.
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