On June 14, at an event in New Delhi, Indian Foreign Minister S. Jaishankar affirmed that Africa holds a significant place in the South Asian nation's foreign policy.
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| India's Foreign Minister speaks at the 18th CII-EXIM Banking Conference on India-Africa Growth Partnership in New Delhi, June 14. (Source: India News Network) |
In his opening remarks at the 18th CII-EXIM Banking Conference on India-Africa Growth Partnership in New Delhi, Foreign Minister Jaishankar emphasized that the African Continental Free Trade Agreement (AfCFTA), which came into effect in 2021, will help Indian companies strengthen their business footprint in Africa.
In fact, with cumulative investments totaling $73.9 billion from 1996-2021, India is among the top five largest investors in Africa.
Furthermore, Mr. Jaishankar asserted that, through the Directive on Tariffs Programme (DFTP), which expands duty-free access to 98.2% of India's total tariff lines, New Delhi has opened its markets to African countries, and to date, as many as 33 of the continent's least developed nations have benefited.
Referring to New Delhi's role as Chair of the Group of Twenty (G20) leading developed and emerging economies, the Indian foreign minister said that three African countries, including Egypt, Mauritius, and Nigeria, are participating in the discussions, but South Africa is not.
Referring to the Voices of the Southern Hemisphere Summit held last January, Mr. Jaishankar emphasized that, through this event, New Delhi presented Africa's core interests at the G20 meetings.
In addition, defense cooperation between India and African countries is showing positive signs. Furthermore, in October 2022, the second India-Africa Defence Dialogue, held in Gandhinagar, was attended by many Defence Ministers from Africa.
In the healthcare sector, from January 2021 to March 2023, the South Asian nation supplied "Made in India" Covid-19 vaccines to 42 African countries.
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