The 11th CII EXIM Bank Conclave on India-Africa Project Partnership inaugurated in New Delhi aimed to strengthen bilateral relations between India and Africa.
In a display of solidarity, dignitaries, business leaders and more than 1000 delegates from the two countries marked their presence on the inaugural day of the event.
Speaking at the conclave, Noel N Tata emphasized the importance of the Conclave as a platform for understanding the aspirations of people of India and Africa. He said, "The unexpected economic events of the last 12 months, have, I believe, made partnerships between the businesses of our countries even more necessary, if not imperative."
"This weakness does not appear to be disappearing soon. Indian companies, therefore, need to diversify their customer and investment base and what better place than Africa," he added.
He also added that a partnership between India and Africa could be based on geographic proximity, cultural affinity, IT and engineering talent, entrepreneurship and low cost operating models.
Addressing the house, Tata talked about the three pillars of Indo-Africa relations: Knowledge sharing and skill development, Trade and investment promotion and Policy and multilateral engagements.
He recognized the efforts made by the Government of India in facilitating Indo-Africa relations by extending line of credit to African countries.
He said, "India's approach to Africa has always been to build a partnership of equals by strengthening co-operation to bring mutual economic benefits." He added, "Accelerated trade and investment flows between India and Africa will provide the necessary impetus for a global economic recovery.
