The Vice President was addressing a gathering of business leaders and experts from both the countries at a business forum hosted at the Convention Centre.
Ansari also emphasised that India was now "ready to work" with partners in Rwanda and other partners of Africa in "transferring our experience" in building an innovation-driven economy in Africa.
"India-Rwanda Innovation Growth Program is being launched to expand ties in science, Technology and Innovation. After this pilot project, the programme is proposed to be implemented in the East African community in seven countries and will then be scaled up to seven other economic zones across Africa," he said.
"The joint ventures created with Rwandan partners can deliver many sustainable social enterprises that will stimulate economic development in Rwanda," he said.
"The programme aims at creating an ecosystem wherein Indian innovations and technology enterprises will thrive and encourage business ventures from both sides," Ansari said.
Prime Minister of Rwanda Anastase Murekezi attended the event organised by Rwanda Development Board and the Private Sector Federation of Rwanda and the Federation of Indian Chambers of Commerce & Industry (FICCI).
The Vice President said it was an 'exciting prospect' to see the captains of trade and industry from Rwanda stand alongside members of Indian business community and innovators from various parts of India.
"This portends well for the future of Rwanda-India commercial and economic relations," he said
"Rwanda today offers a range of prospects to foreign investors, including in renewable energy, infrastructure, agriculture, mining, tourism, and information and communications technology," he said.
"The spectacular growth story of Rwanda, a result of the prudence and vision of Rwandan leadership, represents the dynamism and opportunities of African continent. Rwanda offers a wonderful platform to Indian partners to enhance their presence and capacities in other parts of Africa," Ansari said.
He said the bilateral relations of the two countries are marked by "cordiality, convergence of views and cooperation on major international issues".
Bilateral trade and investments have shown a healthy rise. Trade between India and Rwanda has been gradually increasing over the last few years.
India is also a preferred destination for affordable and quality health care for Rwandans. Several Rwandans have travelled to India for medical treatment and have come back satisfied. India is increasingly becoming a preferred destination for quality and affordable education for Rwandan students.
The government of India also offers scholarships and fellowships to Rwandan students to enable them pursue undergraduate, masters, post-graduate, and research courses in India under ITEC, ICCR, CV Raman Fellowship and Special Agricultural Scholarships.
In addition to these, several short-term, fully-funded, training courses will be offered to Rwandese nationals as part of the initiatives under the India-Africa Forum Summit.
"I am confident that bilateral relations between the two countries will grow further with more frequent exchanges between businesspersons for mutual benefits," he said.