Summary:

Commerce and Industry Minister Piyush Goyal emphasized the potential to strengthen India-Africa economic collaboration, aiming to boost trade to $200 billion within seven years. At the CII IndiaAfrica business conference, he highlighted key areas for partnership, including agriculture, pharmaceuticals, mining, and renewable energy. Goyal noted the limited trade with several African countries and called for broader participation in India’s duty-free tariff preference scheme to maximize cooperation benefits.

He emphasized IT industry opportunities where India can support African nations in infrastructure, health, and financial inclusion. Potential collaborations could extend to entertainment, sports, and sourcing essential minerals like cobalt, copper, and lithium for renewable energy and electric vehicles. Goyal also highlighted the importance of sustainable mining practices and partnerships to enhance mineral value, and India’s role in improving food security by supplying oil seeds, pulses, and lentils. Both regions aim to strengthen MSME and startup collaborations.

Source: IBEF 

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