Vice President Jagdeep Dhankhar addresses the 19th CII India Africa Business Conclave, in New Delhi, Wednesday, August 21, 2024.
Credit: PTI Photo
New Delhi: Africa's natural resources, demographic advantage and growing economic integration through the African Continental Free Trade Area make it an attractive destination for investments, Vice President Jagdeep Dhankhar said on Wednesday.
He also said that India's new-age digital technologies and its space programme offer huge opportunities for Africa to increase cooperation with India.
"Africa's natural resources, demographic advantage and growing economic integration through the African Continental Free Trade Area make it an attractive destination for investments," Dhankhar said.
He was addressing CII's India-Africa Business Conclave here.
He added that India's Duty-Free Tariff Preference (DFTP) scheme offers enormous opportunities for mutual development.
The vice president said that resurgent Africa and rising India can give a strong impetus to south-south cooperation specially in areas like clean technology, climate-resilient agriculture, maritime security, and connectivity.
"India's space programme offers Africa tech-based solutions to advance towards achieving sustainable development. This is an area that offers enormous avenues," he said adding that India is Africa's fourth largest trading partner with $85 billion (Rs 7.13 lakh crore) bilateral trade.