The Confederation of Indian Industry (CII)’s President Sumit Mazumder said that India’s FDI in Africa is estimated at $13.6bn, representing 16% of total India’s FDI.
This makes Africa the second largest destination for India’s FDI, Mazumder added in a statement to MENA, on the sidelines of “India-Africa Partnership Project” conference.
the conference kicked off March 14 in New Delhi, in which 23 ministers, 400 officials form 37 African countries, and 500 Indian officials.
Mazumder said that Africa’s geographical and products diversity are the key to strengthening Indian-African relations. He also noted that Africa’s giant infrastructure projects represent a perfect investment opportunities for India. He called on directing attention to funding innovations- especially since Indian market will attract African products, at the same time when Africa’s industrial growth is advancing at a fast pace.
