Addressing the inaugural session of the twentieth CII India-Africa Enterprise Conclave within the nationwide capital, Singh mentioned India has prolonged concessional loans price over USD 12 billion and USD 700 million in grant help for initiatives throughout Africa, aside from providing 50,000 scholarships for African youth, of which greater than 42,000 have already been utilised.
“This 12 months's theme is totally different as now we have determined to maneuver from venture partnership and progress partnership to the spirit of ‘Co-creating a Shared Future', which signifies the sentiment connected to this outstanding journey,” the minister mentioned.
“India's bilateral commerce with Africa has crossed the magical determine of USD 100 billion in 2024-25 in comparison with USD 56 billion in 2019-2020. With cumulative investments over USD 75 billion from 1996-2024, India is among the many high 5 largest traders in Africa,” he mentioned.
He harassed that Africa continues to play an essential position in India's international coverage and recalled that the African Union was given everlasting membership of the G20 throughout India's presidency.
“We put emphasis on Africa's rightful place on the world excessive desk,” he mentioned. Singh added that India has stood with Africa in instances of want, recalling reduction operations in Mozambique, Madagascar, Mauritius and a number of other different international locations and invited African nations to hitch the Coalition for Catastrophe Resilient Infrastructure in addition to the Worldwide Photo voltaic Alliance to strengthen cooperation in local weather and clear power.
“India and Africa are shaping a robust partnership to co-create a shared future, constructed on mutual belief and collaborative efforts,” he mentioned.
