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India asks its companies to invest in African countries

India has asked its companies to invest in African countries as they offer resources and growth opportunities that can be a win-win situation for both sides. Inaugurating India-Africa Business Forum, IABF, in New Delhi today, External Affairs Minister Sushma Swaraj also called upon African and Indian business enterprises to take full advantage of ‘Make in India’ initiative for mutually beneficial joint business ventures.

The Minister said, India Africa Forum Summit has provided a platform to extend trade and economic ties between India and Africa. She said governments and businesses in African countries should organise events in India to inform and attract Indian business. Ms Swaraj said her Ministry has established a new division to felicitate interaction in this regard.

Mrs Swaraj stressed that the 2.3 billion combined population of India and Africa offer a huge market for all sorts of goods and services. She said, Africa has suffered and lagged behind because it was victim of apartheid policy, despite being blessed with natural resources, hard working people and good leadership. The minister called upon the industry chambers to hold meetings with Heads of Missions of African nations to explore opportunities.

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