Don’t miss the latest developments in business and finance.

Comparisons with Chinese moves in Africa unwarranted: India

Image
Press Trust of India New Delhi
Last Updated : Dec 04 2014 | 9:10 PM IST
India today termed as 'unwarranted' the comparisons with China's engagements in Africa and rejected suggestions that it should follow Chinese moves in that natural resource-rich continent.
"We hear all too often about India's incapacity and lack of will to match the Dragon's Safari and there are those who feel that India should follow and match Chinese moves in Africa. We feel that this is neither necessary nor advisable," said Sujata Mehta, Secretary (ER&DPA) in the Ministry of External Affairs.
Terming comparisons made between India and China's engagement in Africa as "unwarranted", she further said that "while China may appear to have an economic edge, in my view, India in the long run has better locus".
The comments, during a business event organised by industry chamber PHDCCI, come ahead of an India-Africa Forum Summit, which was earlier scheduled to take place this month but had to be postponed due to Ebola outbreak in some African countries.
The summit may take place sometime next year now, depending on the progress made in fighting Ebola menace in the African continent, another senior MEA official said.
"The conference could be hosted provided the ongoing Ebola virus is contained, in the absence of which the proposed Summit would have to be deferred," said Vinay Kumar, Joint Secretary (East & South Africa) Ministry of External Affairs.
The first such summit was held in New Delhi in 2008, followed by another one in 2011, to help boost Indo-African trade and economic relations.

More From This Section

Kumar said that the India Africa Forum Summit (IAFS) drastically enhanced Indian investments to the entire African continent and also pushed their two-way trade acceleration in a substantial manner. He was addressing a PHD Chamber event.
PHD Chamber appealed to the Ministry of External Affairs to expand the lines of credit to Africa to facilitate imports of most of its products, especially from the continent's least developed nations with lower duties.
Mehta said that "unlike a state-centric market model..., India's economic presence in Africa is marked by the predominance of our private sector including a significant number of small and medium enterprises.

Also Read

First Published: Dec 04 2014 | 9:10 PM IST

Next Story