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MIICCIA Unveils Opportunities in Central & West Africa

by Diplomatist Bureau - 2 February, 2024, 12:00 629 Views 0 Comment

The Millennial India International Chamber of Commerce, Industry, and Agriculture (MIICCIA) hosted a thought-provoking discussion titled ‘Investment Opportunities in Central & West Africa’ at Hotel Lalit, New Delhi, on January 29, 2024.

The presence of Shri V. Muraleedharan, Minister of State for External Affairs, added significance to the event as he graced it as the Chief Guest.

In his address, the minister underscored the enduring and mutually beneficial ties between India and Africa, highlighting the unprecedented level of engagement witnessed over the past decade. He emphasised India’s substantial assistance to Africa, which has surpassed the 800 million mark, contributing significantly to local employment and fostering socio-economic development through capacity building and skill enhancement initiatives.

The Government of India’s support to Africa encompasses various avenues such as lines of credit, capacity building programs, duty-free market access, educational scholarships, and humanitarian aid. The minister also shed light on the vast investment opportunities in sectors like mining, agriculture, machinery, fisheries, and artificial intelligence across central and western Africa.

According to the Confederation of Indian Industry (CII), India’s current investment in Africa stands at 70 billion USD, a figure projected to exceed 150 billion USD by 2030.

Joining the discourse were diplomats representing Eritrea, Ghana, Congo, Nigeria, and Niger, along with officials from the Export-Import Bank of India. The event also witnessed the participation of dignitaries from Guinea, Gabon, Chad, Angola, Togo, corporate entities, NGOs, and more.

Furthermore, memorandum of understandings (MoUs) were exchanged between MIICCIA officials and representatives from LA Global and GCIPT, signifying a commitment to fostering collaborative efforts for mutual growth.

As a non-governmental, not-for-profit organization, MIICCIA stands committed to being the foremost advocate for India’s business and industry. Differentiating itself from other chambers, MIICCIA aims to provide a genuine international platform for Indian businesses to thrive globally through proactive engagement and advocacy.

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