Blitz Bureau
India’s Minister of Commerce and Industry Piyush Goyal said Africa can complement India’s need for critical minerals required in sectors like electric vehicles, electronics, defence and renewable energy.
Addressing the special plenary with Trade Ministers at the 19th CII IndiaAfrica business conclave in New Delhi last month, Piyush Goyal highlighted the potential for collaboration in the mining sector given that Africa is rich in minerals.
He emphasised the importance of sustainable mining practices and the value addition to minerals in both India and Africa through joint partnerships. Goyal set an ambitious goal of doubling trade between India and Africa in the next seven years. He pointed out that there is huge potential for trade between African countries and India.
India’s DFTP Scheme
The minister pointed out that as many as 33 African countries do not participate in India’s Duty-Free Tariff Preference (DFTP) Scheme for least-developed countries (LDCs) and urged them to take advantage of this opportunity.
He emphasised that India’s strengths in agriculture, pharmaceuticals, textiles, automobiles, and renewable energy align with Africa’s development needs. He also noted that Africa’s strengths in mining, tourism, agricultural products, and manufactured goods complement India’s growth requirements. The focus, he said, should be on equitable trade. Goyal also highlighted the potential of a technology-driven partnership between India and Africa, particularly in the IT sector.
He urged the use of India’s Digital Public Infrastructure to drive deeper technology penetration in Africa, enhancing financial inclusion, social sector development, transparency, digitalisation, and job creation.
Entertainment sector
The Commerce Minister also highlighted the entertainment sector as an area with a significant potential for mutual collaboration.
He cited the example of Kili Paul from Tanzania, who gained popularity globally by engaging with Bollywood music. Goyal also underscored the potential for cooperation in sports and cultural exchange.
Addressing the issue of food security, the Union Minister noted that India can significantly contribute to Africa’s agricultural sector.
He mentioned the growing demand for oilseeds, pulses, and other crops in India and proposed collaboration in plantation sectors in Africa for export to India.
Goyal also mentioned the critical role of the Medium, Small, and Micro Enterprises (MSME) sector in both India and Africa. He called for enhanced cooperation to create more jobs, support MSMEs, and foster entrepreneurship. The minister encouraged expanding relations between MSMEs on both sides and emphasised the potential of the startup ecosystems in India and Africa to engage and grow through collaboration.
