On the trade and economic front, India and Africa’s bilateral trade reached USD 98 billion in 2022-23…reports Asian Lite News
Under Prime Minister Narendra Modi’s vision of “One Earth One Health” and belief “Vasudaiva Kutumbakam,” India supplied ‘Made in India’ Covid vaccines to 42 countries of the Africa continent, External Affairs Minister S Jaishankar said on Wednesday.
Addressing the inaugural address at the 18th CII-EXIM Bank Conclave, Jaishankar said, “During the pandemic, India continued unabated its engagement with Africa. The 15th and 16th editions of the CII-Exim Bank Africa Conclave were actually held, though they were held virtually. To support our friends in Africa, India provided medical support to 32 countries.” “From January 2021 till March 2023 we supplied ‘Made in India’ Covid vaccines to 42 countries of the continent. This was in line with our Prime Minister’s vision of “One Earth One Health” and our civilizational belief in “Vasudhaiva Kutumbakam”. We are now encouraging Indian pharma manufacturers and vaccine manufacturers to explore joint manufacturing facilities in African countries. Equally important, we have battled in the WTO along with our African partners for enhancing the accessibility and affordability of vaccines,” he added, according to the statement released by MEA.
He also talked about virtual education and medical services. Jaishankar informed that India launched e-VidyaBharti and e-ArogyaBharti network in 2019 for tele-education and tele-medicine.
Under this initiative, over 14,000 youth from 22 African countries have enrolled for various degrees and diploma courses. India has partnered with African countries in promoting digital transformation through the setting up of IT Centres, S&T Parks Entrepreneur Development Centres (EDC), etc. Where the digital domain is concerned, India’s emphasis on trust and transparency makes it a natural partner for Africa.
On the trade and economic front, India and Africa’s bilateral trade reached USD 98 billion in 2022-23.
“On the trade and economic front, India’s bilateral trade with Africa has reached US$ 98 billion in 2022-23 compared to USD 89.6 billion of the previous year. I am confident that our bilateral trade will soon cross the USD 100 billion mark,” Jaishankar said.
“Through the Duty-Free Tariff Preference (DFTP) Scheme that extends duty-free access to 98.2 per cent of India’s total tariff lines, India opened its market to African countries, and so far 33 LDC African nations are entitled to get the benefit,” he added.
The minister hoped that African Continental Free Trade Area Agreement (AfCFTA) which commenced in 2021 will be helpful for Indian companies to enhance their business footprint in Africa.
With cumulative investments at USD 73.9 billion from 1996-2021, India is among the top five large investors in Africa, Jaishankar said adding that he is sure this will grow in the times to come. (ANI)