Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal said that India and Africa are natural partners with historical and cultural ties. Addressing the 18th CII-EXIM Bank Conclave on ‘India-Africa Growth Partnership’ in New Delhi today, the Minister said that Mahatma Gandhi first practiced the principles of Satya and Ahimsa in South Africa and Mr. Nelson Mandela continued it. a priceless legacy.
The minister mentioned his recent collaboration with 15 ambassadors from the African region, which was a step to strengthen this relationship. He said that India’s bilateral trade with Africa has grown by 9.26% to reach nearly $100 billion in fiscal year 2022-23.
Shri Goyal said that exports and imports were about balanced, with exports at US$ 51.2 billion and imports at US$ 46.65 billion in the fiscal year 2022-23. He expressed confidence in achieving the goal of doubling trade volume to USD 200 billion by 2030. The minister said that a young aspirational population can help achieve this goal.
Shri Piyush Goyal said that 27 Least Developed Countries (LDCs) of Africa are already enjoying duty-free tariff preferences on a non-reciprocal basis and that Free Trade Agreements (FTAs) and Comprehensive Economic Partnership Agreements (CEPA) can be explored with other African countries.
The Minister said that India-Africa relationship is guided by the spirit expressed by Prime Minister Shri Narendra Modi during the last 9 years of joint development as equal partners. Shri Goyal said that this spirit cemented the foundations of this partnership and established brotherhood. He quoted the Prime Minister as saying that “Africa will be at the top of our priorities. We will continue to intensify and deepen our cooperation with Africa. As we have shown, it will be permanent and regular”.
Shri Piyush Goyal said that the India-Africa relationship has the potential to help fulfill the dreams and aspirations of approximately 1/3rd of the world’s population. He said that both India and Africa are blessed with demographic dividend and skill development and youth education, this partnership can drive global progress in this century.
The Minister emphasized that India can be the voice of the Global South and adopt the voice of the Global South in multilateral forums. Shri Goyal emphasized on creating a powerful voice of the Global South to influence the geopolitics of the world and ensure equitable and inclusive growth.
Shri Piyush Goyal mentioned that India is a friend in need and a true friend to Africa. He said that during the COVID-19 pandemic, India has extended support to its African brothers and sisters in the form of medicines, vaccines and other equipment in the spirit of Vasudhaiva Kutumbakam.
Shri Goyal highlighted the cooperation between India and Africa in the field of renewable energy to realize the dream of ‘One World, One Grid’. He said that India and Africa are uniquely poised to become leaders in renewable energy generation, especially solar energy with grids connected through land and underwater transmission lines.
The minister said that this potential of affordable energy for all throughout the day needs to be effectively harnessed and appreciated the participation of more than 20 African countries in the International Solar Alliance (ISA).
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