African economies open up to India

Purred by the indomitable spirit of South-South cooperation, and the accompanying changes in the world economic architecture, traditional partners India and Africa have crossed the rubicon to forge a mutually-beneficial economic partnership guided by long-term goals. Africa today views the Indian economy as a successful model to be emulated. Governments and companies in the region see Indian technologies as most appropriate, adaptable and affordable, even as Indian companies are being welcomed into the African countries with greater enthusiasm than ever seen.

The recently concluded fourth CII-Exim Bank India Africa Conclave on Project Partnership 2008, precursor to the landmark India-Africa Forum Summit to be held in New Delhi on April 8, demonstrated the depth and range the partnership has acquired in recent years. Attended by a record 1,000 plus delegates including 606 ministerial and business delegates from 30 African countries, businesses worth nearly $11 billion were discussed between the participating entities in diverse areas such as financial services, education, health care, mines and minerals and agriculture.

The African leaders at the conclave said in no uncertain terms that they look towards India for value addition in the conversion of their natural re sources to productive assets meaning,

To read the full article, click here...
To read the ePaper, visit: http://epaper.financialexpress.com