https://sputniknews.in/20230707/jaishankar-reveals-major-reasons-behind-growing-indo-african-ties-2884817.html
Jaishankar Reveals Major Reasons Behind Growing Indo-African Ties
Jaishankar Reveals Major Reasons Behind Growing Indo-African Ties
Sputnik India
India has intensified its outreach to African nations in recent years with New Delhi focusing on expanding trade and defense ties in the continent.
2023-07-07T17:40+0530
2023-07-07T17:40+0530
2023-07-11T19:25+0530
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Indian External Affairs Minister (EAM) Subrahmanyam Jaishankar on Friday underlined the main factors behind the rise of his country's growing trade with African nations, which he stated stood at $95 billion at present.The first reason the EAM emphasized was the rise of India in economic terms.Last fiscal, India emerged as the fastest-growing economy in the world with a 7 percent growth and it is set to reproduce similar numbers in 2023-24, as per the Reserve Bank of India's estimates.Additionally, last year, India surpassed the UK to become the world's fifth-largest economy and is now only behind the United States, China, Germany, and Japan in terms of GDP figures."One, the Indian economy, Indian businesses are going up more and more," Jaishankar noted.Jaishankar observed that technology would also play a key role in India's trade relations with Africa.Jaishankar's comments come in the backdrop of India's increasing efforts to enlarge its footprint in Africa.First Overseas IIT Campus to Open in TanzaniaOn Thursday, India's premier institution -- Indian Institute of Technology Madras (IIT M) -- signed a Memorandum of Understanding (MoU) with the Tanzanian government to set up its first overseas campus in Zanzibar, Tanzania.The development is significant for the African nation considering it faces a massive shortage of engineers. According to a report, the number of engineers that Tanzania produces is barely enough to suffice merely half of its annual requirements.The IIT campus will become operational in October 2023 and accommodate 50 undergraduate and 20 postgraduate students in its first year.
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Jaishankar Reveals Major Reasons Behind Growing Indo-African Ties
17:40 07.07.2023 (Updated: 19:25 11.07.2023) India has intensified its outreach to African nations in recent years with New Delhi focusing on expanding trade and defense ties in the continent.
Indian External Affairs Minister (EAM) Subrahmanyam Jaishankar on Friday underlined the main factors behind the rise of his country's growing trade with African nations, which he stated stood at $95 billion at present.
"Our trade with Africa is $95 billion... I can predict very confidently that.. will grow very rapidly in the community and they will grow rapidly in the coming decade for three reasons," Jaishankar said in Dar-es-Salaam city of Tanzania, where he is on an official four-day visit.
The first reason the EAM emphasized was the rise of India in economic terms.
Last fiscal, India emerged as the fastest-growing economy in the world with a 7 percent growth and it is set to reproduce similar numbers in 2023-24, as per the Reserve Bank of India's estimates.
Additionally, last year, India surpassed the UK to become the world's fifth-largest economy and is now only behind the United States, China, Germany, and Japan in terms of GDP figures.
Competitive Indian Businesses "One, the Indian economy, Indian businesses
are going up more and more," Jaishankar noted.
"That's one reason for demand in Africa. We have to compete, you know, maybe they'll go to China, Europe or Turkey. But if Indian business is more and more competitive, if people are willing to go out more and more, I think, a large part of the demand will be met," he added.
'Make in India' Technology Jaishankar observed that technology would also play a key role in India's trade relations with Africa.
"Third is technology. Technology is driven in different ways. Automobiles could be healthy. It could be digital, I think that is what India can make. So politically, it's so easy for us really to bond with African governments and believers," India's top diplomat elaborated.
Jaishankar's comments come in the backdrop of India's increasing efforts to enlarge its footprint in Africa.
First Overseas IIT Campus to Open in Tanzania
On Thursday, India's premier institution -- Indian Institute of Technology Madras (IIT M) -- signed a Memorandum of Understanding (MoU) with the Tanzanian government to set up its first overseas campus in Zanzibar, Tanzania.
The development is significant for the African nation considering it faces a massive shortage of engineers. According to a report, the number of engineers that Tanzania
produces is barely enough to suffice merely half of its annual requirements.
The IIT campus will become operational in October 2023 and accommodate 50 undergraduate and 20 postgraduate students in its first year.
