India-Africa meet to see investment worth $10-bn

New Delhi: Announcing the largest-ever India-Africa conclave, the CII said it expected 131 projects worth over $10 billion are likely to be discussed.

Highlighting Africa’s potential as an investment destination, the conference will focus on four main areas — technology, agriculture, human resources and energy. Mr Sanjay Kirloskar, Co-chairman, CII Africa Committee and CMD, Kirloskar Brothers, which has a presence in more than 25 African countries said, “Africa is the success story waiting to happen and one which will happen soon.”

Ms Gannet Zewide, Ethiopian Ambassador to India felt that India could provide affordable and adaptable products and technology to Africa. Mr John Bentum Williams, the High Commissioner of Ghana to India, added that the African continent, which is 11 times larger than India, had huge agricultural opportunities to offer, along with natural resources such as minerals, and oil with respect to Ghana. Ms Nimisha Madhwani, the Ugandan Ambassador to India, said that though the media always focussed on the negative side of Africa, crime rates in leading cities such as Washington, Paris or Moscow were far higher. Africa is a safe investment destination, with vibrant returns, she said.

Mr Tarun Das, Chief Mentor, CII, hoped that the conference would go beyond to build a human bridge between India and Africa.

The conclave is to be held between March 19 and 21.