He said there are four pillars of India-Africa engagement - People, Business, Trade & Government

India intends to deepen its cooperation with Africa in areas like solar power, defence, infrastructure and pharma, Union Commerce and Industry Minister Piyush Goyal said on Monday.

Partnership in these four areas would fulfil aspirations of both the countries, Goyal said in his opening remarks at the Special Ministerial Session of the CII-EXIM Bank Conclave on India-Africa Growth Partnership.

Referring to solar power, he said this will help bring clean energy, energy security and will create jobs in Africa. In defence, he talked about trade and military exchanges in the Indian Ocean, manufacturing of armoured vehicles and UAVs.

The third sector, he explained, was physical & digital infrastructure, helping in IT/Consultancy & Project Exports. The fourth area of cooperation that Goyal highlighted was healthcare & pharma.

By working together, India and Africa can address a number of global concerns, Goyal said, adding that collaboration might result in cost-effective solutions in a number of fields.

"We are working to lead the developing world out of food insecurity, efforts are being made to take quality life and prosperity to the people of India and Africa. Our deep friendship can be best demonstrated by our continuous engagement through Vaccine-Maitri during Covid period," the minister pointed out.

Goyal said that there are four pillars of India-Africa engagement - People, Business, Trade & Government.

According to Goyal, India is among the top five investors in Africa with investment at $71 bn over the last 25 years.

He added that in terms of trade, Africa is India’s 4th largest trading partner. India-Africa merchandise trade grew by 34% from $67 bn in 2019-20 to $89 bn in 2021-22. India’s export stands at $40 bn and imports at $ 49 bn from various African countries, he explained.

During his remarks, Goyal emphasised the close connections of friendship that exist between India and the African nations, noting that these links are based on shared cultural heritage, commercial links, and a love of movies.

He also cited Mahatma Gandhi as an example of how he first used the Satya and Ahimsa concepts in Africa.

He continued by discussing the assistance South Africa gives to India, noting that the proposed TRIPS waiver (sponsored by SA and India and backed by all African nations) demonstrates the strength of their alliance and attempts to cooperate as a group of developing countries.

He claimed that this was made clear in the WTO Ministerial as well, when India and Africa took up the role of speaking for developing and less developed nations, proving the value of multilateral trade systems and defending their needs for future economic progress.