The gold mine of investment in Africa: Vice President Jagdeep Dhankhar on Wednesday highlighted the attractive investment opportunities offered by Africa, citing its abundant natural resources, demographic advantages and increasing economic integration facilitated by the African Continental Free Trade Area.
Speaking at the CII India-Africa Business Conclave, Dhankhar explained how these factors position Africa as a prime destination for investors. Dhankhar highlighted that Africa’s significant natural resource base, coupled with its young population, increases its attractiveness for global investors. “Africa’s natural resources, demographic advantage and increasing economic integration through the African Continental Free Trade Area make it an attractive investment destination,” Dhankhar said.
Technological synergy between India and Africa
In addition to Africa’s strengths, Dhankhar highlighted the value of India’s next-generation digital technologies and its space programme.
He noted that these developments present important opportunities for deepening cooperation between India and Africa. The Vice President also highlighted India’s Duty-Free Tariff Preference Programme (DFTP), which he believes could significantly benefit both regions through mutual development.
Strengthening South-South cooperation
Speaking about the synergy between a revitalized Africa and a rising India, Dhankhar advocated for greater South-South cooperation. He underlined the importance of collaboration in key areas such as clean technology, climate-resilient agriculture, maritime security and connectivity. Dhankhar also highlighted how India’s space programme can offer Africa innovative technology-based solutions to support sustainable development.
He said India is currently Africa’s fourth largest trading partner with bilateral trade worth $85 billion, underlining the strong economic relationship between the two regions.(With PTI inputs)
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