During the annual meeting of African development Bank, PM Narendra Modi, highlighted India’s relations with Africa. While addressing the people at the opening ceremony session he said that though India cannot compete with Africa in long distance running, but it will always stand shoulder to shoulder with Africa, supporting it in the long and difficult race for the better future. He also quoted Nelson Mandela’s words “You (India) took up our battles as if it were your own” and was welcomed with thunderous applause from everyone including over 80 African nation delegates.
While talking about the historic ties between Africa and India, PM mentioned the third India Africa summit, held in 2015 in Delhi, which was attended by all 54 African countries. He said that Africa is a top priority for India’s foreign and economic policy. He also put forth his vision of doubling the Indian farmer’s income by 2022, with well planned strategy for improved seeds, measures to reduce crop losses and better marketing infrastructure and that India was keen to learn from Africa.
Narendra Modi also told about the credit of $8 billion extended by the Exim Bank of India to 44 African countries adding that India is also in talks with US and Japan to support development in Africa.
PM also put forth the data saying that Africa-India trade has multiplied in the past fifteen years and has doubled in the last five years approximately to $72 billion. He further added that India’s commodity trade with Africa was higher than that with US. Pointing out that India is the fifth largest country investing in Africa, with investment amounting to $54 billion he mentioned that India’s private sectors have also been investing in Africa. He also said that from 19196-2016, Africa accounted for nearly one fifth of India’s overseas direct investment.
PM Narendra Modi concluded saying that, there is no country in Africa that has not been visited by an Indian Minister and that India will continue to support Africa for its development and better future.