Search Result for : India Africa Forum Summit

The Dollar Business Bureau The Federation of Indian Chambers of Commerce and Industry (FICCI) and Government of India’s Technology Development Board (TDB) took a delegation of twenty-one start-ups to Nairobi, Kenya to showcase their innovations at the business enclave that was addressed by the Prime Minister of India Narendra Modi and the President of Kenya Uhuru Kenyatta on Monday. FICCI and TDB plans to begin a programme called African Development through Indian Technology and Innovation (ADITI) under the slogan 'India shares because it cares'. This has been envisaged by the Prime Minister of India and over 40 heads of African states during the India Africa Forum Summit III (IAFS III) happened at New Delhi in the month of October 2015. The technologies and innovations ...

Deepak Kumar | The Dollar Business   The inclusion of cotton fabric among the list of products for giving duty benefits under the Merchandise Exports India Scheme (MEIS) is likely to revive India’s cotton exports which have been going through a rough phase in recent months, say experts. During September this year, exports of cotton yarn and made-ups fell by 3.58 % to $911 million from the last year’s $945 million. Exports of textile & clothing sector in September registered a decline of 5.71%, while the garment sector as a whole witnessed a negative growth of 12.02%. During the first six months of the current financial year, outbound shipments of cotton yarn contracted by 2% to $5.16 billion from $5.28 billion registered ...

The Dollar Business Bureau The government has asked Indian and African business enterprises to come forward and forge business partnerships in the backdrop of “Make in India” initiative in order to promote investments and boost bilateral trade. Speaking at the 3rd India Africa Forum Summit on Thursday, External Affairs Minister Sushma Swaraj pointed out that India and Africa need to extend cooperation and collaboration in several key sectors. Swaraj hoped that African countries will take more steps to attract Indian investments. “There was a time when India and Africa were one landmass, united by geology. Today, we are united by our common goal for progress, prosperity and peace around the world,” she said. On Wednesday, FICCI, in association with Exim Bank, ...

The Dollar Business Bureau Prime Minister Narendra Modi delivering opening address at the inaugural ceremony of the 3rd India Africa Forum Summit 2015, in New Delhi on Thursday   Africa and India are “two bright spots of hope and opportunities in the global economy”, Prime Minister Narendra Modi said on Thursday as he offered a fresh concessional credit of $10 billion to the region over the next five years to “add strength” to the partnership. “This will be in addition to our ongoing credit programme,” Prime Minister said at the third India-Africa Forum Summit being held in New Delhi. “Today, Africa and India are two bright spots of hope and opportunities in the global economy. India is honoured to be a development ...

The Dollar Business Bureau India hopes to stimulate trade and investment in Africa with singing of a Tripartite Free Trade Agreement and beginning of talks for the creation of a Continental Free Trade Agreement in the region. “We have noted with interest, the recent announcements regarding the signing of a Tripartite Free Trade Agreement and the launch of negotiations for the creation of a Continental Free Trade Agreement in Africa. These are important developments and will stimulate further trade and investment,” External Affairs Minister Sushma Swaraj said on Tuesday. Speaking at the four-day India-Africa Forum Summit, being held in New Delhi, the Minister said, “The international trade regime is another very important aspect that shapes the possibilities for promotion of improved ...

The Dollar Business Bureau The India-Africa Summit beginning on Monday is expected to open an array of opportunities for trade and investment even as the members participating in the event are keen on working “hand-in-hand” to safeguard their interests at World Trade Organisation and other global fora. Describing Africa as a “frontier of opportunity”, External Affairs Minister Sushma Swaraj said that India was interested in Africa’s economic growth and its integration with global economy and the country was willing to work hand-in-hand with the region to maximize mutual benefit. The four-day summit is expected to host hundreds of business delegations from African countries. “We have sought to complement our needs with each other’s strengths. Our partnership also encompasses a broad range of ...

The Dollar Business Bureau Indian companies will get an opportunity to invest in various infrastructure projects in Africa. Exim Bank has tied up with the African Development Bank (AfDB) to set up a Project Development Company which will pave the way for Indian developers to take part in infrastructure projects in the continent, a report said. Exim Bank and AfDB will form a Project Development Company in Africa to identify and develop such projects; the report said quoting Kodeidja Diallo, Director (Private Sector), African Development Bank. The company will share expertise related to infrastructure development and projects that are relevant for Indian investors. The overall trade between India and western African countries has increased from $1.9 billion in 2004 to $22 billion ...